jwammo12

EURUSD Weekly respecting 200SMA, breakdown below

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FOREXCOM:EURUSD   Euro / U.S. Dollar
EURUSD appears to have a large complex Head and Shoulders pattern on the weekly. However, the 200SMA appears to be acting as significant support throughout the head and shoulders pattern. A weekly break below the 200 SMA should provide a meaningful bearish breakdown to the EURUSD . As a long-term trend break, this would likely coincide with serious risk to distressed Euro-Zone countries.
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