The pattern on the daily chart of EURUSD clearly looks like a head and shoulders top. The neckline of this pattern at 1.1010 has given way on a daily close basis providing a target of a move towards 1.03 (New lows in the downtrend from the 2008 highs above 1.6000. Interim support ahead of there is met at 1.0822-1.0826. Below those ranges the other major support comes in at the 2015-lows between 1.0458 and 1.0524. >>>There are a number of factors (Technical and non-technical) which we believe support this move lower in EURUSD (and the EURO overall) 1– Europe is at a different point in the economic/rate cycle. While the ... (full story)