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Olu
Oct 15, 2017 8:54 PM

EurUsd: Sporting A Forming H&S Pattern 

Euro Fx/U.S. DollarFXCM

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Comments on the chart

Comment

Price moved down today as if to solidify the 'right shoulder'. nothing else to report

Comment

No breakdown to report. No clean H&S to report. Price has just moved sideway. H&S idea is not playing out. The euro has held up nicely despite a fall in all the other majors. DXY has also stayed strong and if we dont get am immediate fall from here then up we go

Comment

Price has broken the 'neckline' however the move down to break this neckline has not been clean as price moved sideways way too much before the break. So something else other than the H&S is going on here. Will reassess over the weekend
Comments
zuzula31
eur/usd bullish
Olu
@zuzula31, It is possible depending on the timeframe for price to be bullish and bearish. The weekly chart of the DXY is bearish
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