stockmarketdaytrader
Short

Euro About to Break Out

FX:EURUSD   Euro / U.S. Dollar
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There is a continuation pattern in affect on this pair, we have the formation of the first leg, now price action consolidated and waited for MACD to head back to zero line, it will now continue the move down! Leg 2 is coming soon! Price found resistance at a pivot point area and started to come down! Lots of confirmations of direction! I can also see somewhat of a head and shoulders pattern, its not a valid one, but i can still see it! we have a 123 formation on the hourly chart, and price has started to reach to break it, and is almost through it! On the daily chart I can see that a top has probably been made, that's a strong indication of a drop! Last but not least, we have a head and shoulders on the 4 hour as well, and price action has breached the neckline already! We have lots of supporting signals for a sell trade, that can only mean one thing !!!
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