EURUSD has formed a big inverse H&S from which the neckline was broken a week ago. At the moment it looks like it will make a pullback towards the neckline again.
But there are 2 options here, follow the H&S and the blue line, or that green support breaks and we will see a drop for the coming period. It's best to wait for some more confirmation before entering this trade. So lets wait and see first.
But there are 2 options here, follow the H&S and the blue line, or that green support breaks and we will see a drop for the coming period. It's best to wait for some more confirmation before entering this trade. So lets wait and see first.
Comment:
So the wedge seems to be fully in play now, lets wait for a retest of the former support levels around 1.170ish to try and short it
