ECB re-starts bond buying program.
EUR/USD in a Possible Inverted Head and Shoulder
The EUR/USD is starting to look more and more bearish, especially after Friday’s decline that accelerated after the USD Non-Farm payroll. To start the week, the market dips below last week’s low and tags 1.3075 before stalling. Through the European session and into early 3/12 US session, there seems to be an inverted head and shoulder developing. The market will have to close in the 1H chart above 1.3130 to establish this bottom for a very short-term correction. For a corrective outlook, there is resistance in the 1.3150-1.3160 area, containing the 38.2% retracement and a previous pivot. Above that 1.32(61.8% ... (full story)