Morning guys,
Last week was a reversal one right from strong daily resistance. As a result, we've got bearish engulfing pattern on weekly chart, which, as a rule,
takes the shape of AB=CD action on lower time frames.
Since we also could recognize H&S shape here, our expectation is EUR should reach ~1.1450 area, by forming right shoulder and upside retracement first,
as it is shown on the chart:
Deeper all time frames EUR analysis and fundamental market background you could find on our signature link.
Last week was a reversal one right from strong daily resistance. As a result, we've got bearish engulfing pattern on weekly chart, which, as a rule,
takes the shape of AB=CD action on lower time frames.
Since we also could recognize H&S shape here, our expectation is EUR should reach ~1.1450 area, by forming right shoulder and upside retracement first,
as it is shown on the chart:
Deeper all time frames EUR analysis and fundamental market background you could find on our signature link.
Trade attivo:
Today EUR touches this support line with butterfly "Buy" on hourly chart that could trigger upside leg and right arm of H&S that we're watching here.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/