7pasos

Multiple signals for a decline

FX:EURUSD   Euro Fx/U.S. Dollar
338 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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