The first is a , as marked in green. This pattern suggests a short term move to the low side. I believe that if the market breaks the structure low of the right shoulder, that the market will rally down into structure around the 1.2660's. I have placed stops at the top of the head, the entry below the right shoulder and the limit at previous structure around 1.2663
The second pattern is a , this pattern also suggests that the market is becoming weak and is likely to return lower, the drives are most visible in a , or also if you zoom out. I don't believe there is a safe trade to be made off of this pattern, but I do believe that it reinforces our original speculation that the market will begin a downtrend.
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