SignalTradersUK

Inverted Head & Shoulders

Long
FX:EURUSD   Euro / U.S. Dollar
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1
Now that we have broken 1.3500 , should we be looking to Short at previous Resistance or does that Resistance now become Support ?
There was always a potential Inv H&S , but now that we have tested the neck line, and broken 1.3500 it would appear that it is a IH&S.
Taking the distance from top of the head and neck line, projecting from the neck line an equal distance, we see that price should try and test previous highs, while getting stuck in congestion from previous consolidation along the way.

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