EURUSD LONG - Inverted Head and Shoulder might be forming

Resistance & Support to watch :

EURUSD is dancing in the neutral price zone of 1.1542 to 1.1608

1.1670 Resistance ( Back to medium bullish trend )
1.1630 Major resistance ( Back to weak Bullish trend )

NEUTRAL ( 1.1542 to 1.1608 )

1.1550 Support
1.1470 Major Support ( Back to Bearish trend )

Look for EURUSD 1.1508 support to see if it holds or not. if we break that then we are heading back into bearish zone for EURUSD. The EURUSD is under pressure but i don't think it will last.

i expect EURUSD to resume the Uptrend after some release of pressure from DXY collapse.

We have now completed the Head and shoulder pattern , now what ?

I guess we are heading higher on EURUSD unless we can't sustain the rollercoster , the FEDs Powell just gave EURUSD some fuel

Let's aim for 1.1670

Watch out for the 95.00 Break on DXY ( US Dollar index level ) . The DXY has been on the back foot early today. Expect Further Upward trend on EURUSD if we break the 95.00 Level on the DXY heading to the 94.00 region

DXY ( US Dollar ) Bulls Vs EUR Bulls . its a fight to the end

Who is going to blink first ?

DXY break of 95.00 level smashing into 94.00s level OR

EURUSD break below 1.1600 smashing into 1.1500s

Either way its going to be a long fight of back and forth .

Enjoy. Happy watching

Watch out FX Options expiry

FX option expiries for Aug 27 NY cut at 10:00 Eastern Time, via DTCC, can be found below.

EUR/USD: EUR amounts

1.1470 983m
1.1475 540m
1.1500 2.1bn
1.1510 583m
1.1600 782m
1.1625 2.4bn
1.1700 961m
1.1740 652m
1.1750 703m

EURUSD Bulls have blinked first and EURUSD has smashed into 1.1590s and might extend downwards .

What is going to be the response from EURSD Bulls do they have the Firepower to come back for 2nd round or they will give up again.

EURUSD Bulls = EURUSD Chickens ( as i call them . A lot of talk but no action ) . They are like a dog without teeth and barks but does not bite.