by Johan Kriek (jkriek@fxinstructor.com) Hi fellow traders. I hope you had a nice trading week. I thought I’d just post my thoughts on the EUR/USD before the end of the week Look at the chart below: eurhs This pattern is known as a continuation Head and Shoulders pattern and signals a downside breakout to 1.0823 The preceding major trend is bearish and thus this pattern signals a continuation of this major trend, especially if the neckline at 1.2540 is violated and confirmed. The left shoulder has already formed at 1.3290/1.3116 The right shoulder could peak at 1.3234 or 1.3473 Keep an eye on this even though the ... (full story)