7pasos

Multiple signals for a decline

FX:EURUSD   Euro/U.S. Dollar
339 0 0
Here we have the EURUSD             4h showing as well (yesterday talked about elliott ) signals to a potential decline:

1) the failure to break above 1.3413 resistance (even could touch it)
2) the clear existance of a bearish momentum divergence evidenced by the AO
3) the potential formation (not completed yet) of a head and shoulders

If the price complete the head and shoulder the chances are the minimum decline gets to the 1.3066 support zone , but as the resistance failed to be touched the chances are for a more longer decline.
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