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EUR daily Head and Shoulders signals significant downside breakout
by Johan Kriek ([email][email protected][/email]) 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 ... (full story)
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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