MaryJane
Short

Will the possible bullish HSH beat the bearish Flag?

FX:EURUSD   Euro / U.S. Dollar
113 1 8
It seems that the Pair is forming a bullish shs             . If the Formation will be triggered, the longterm downtrend has to be discussed. The possible neckline is based near the trendchannels upper edge. i hold onto my former bearish Analysis for the pair (
snapshot
- At the moment i see on the one hand the chance for a double bottom with basis 1,08. The target of this formation is 1,1425. -Above 1,1425 there is enough place to make a new high at 1,18. (orange counting)

On the other hand there is the strong momentum and dynamic of the longterm downtrend - we are trading at its trendchanels upper edge. This can perhaps be interpreated as a new anticyclical selling signal as long as we trade below this level.
-Below the last valid orange "3" at 1,08 a drop to 1,04 can be exspected
-below the last valid red "2" a longterm selloff can be exspected with target @ 0,92) , but the possibleshs could Change my view.
For further Information about the counting have a look @
snapshot

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