Nice identification of a potential head and shoulder pattern on EURUSD and there may be bullish bias as you have identified. For our set up, we have identified the key resistance and support levels for the short term. The support that we have identified is at 1.1189 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement , horizontal swing low support). Stochastic (89,5,3) is approaching its support at 1.2% and a potential bounce could occur. If a potential bounce does occur, we may want to look at the 1.1374 resistance (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance). Looking forward to seeing how things develop.
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.