EUR/USD - Head and Shoulder breakout on hourly

25 apr 2016

Resistance – 1.1280, 1.1342, 1.1376

Support – 1.1215, 1.1184, 1.1144

• Head and Shoulder breakout has opened doors for a possible drop to 1.1098.
  

• Prices have been on the rise today, but a failure to near or take out 1.1280 could result in a cut through 1.1214 and a possible drop to 1.1184 (50-DMA).
  

• EUR bulls are likely to make their presence felt only if prices see an hourly closing above 1.1280 (neckline).