EURUSD, Major Head-Shoulder-Formation, Completion Incoming!

Hello Traders Investors And Community,

Welcome to this analysis about EURUSD, we are looking at the weekly timeframe perspectives. The pair recently already showed up with initial bearish volatility on the local perspective that should not be underestimated. Besides that as I discovered now EURUSD on the more global weekly timeframe perspectives has established this major head-and-shoulder-formation with the left shoulder and the head already completed, the volume also matched so far with the left shoulder setting up the volume while the top of the head did not reach the volume formed in the left shoulder followed by increased volatility with also increased volume to move on with the right shoulder in the structure.

Taking these factors into consideration and with the fact that EURUSD is now also below the 20-EMA marked in red in the structure, the head-and-shoulder-formation is likely to complete within the next times with the right shoulder and the breakout below the neckline. This will be the confirmational setup finally completing the formation and activating lower downside targets within the 1.308 to 1.372 level. When EURUSD reaches these levels it has to be shown if it manages a stabilization from there or continues further bearishly. For now, the bearish perspective should not be kept by side as the head-shoulder-formation has a high possibility to complete within the next times, it will be an important development.

In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day, and all the best!
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Information provided is only educational and should not be used to take action in the markets.

Comment:

EURUSD continued with the breakout below the HS-Neckline to form a confirmation below.

Continued with the further alignements as expected to reach all target-zones. ✔

Comment:

ANALYSIS UPDATE: EURUSD completed the head-shoulder-formation in the schedule and accelerated heavy bearish volume and momentum.

Comment:

ANALYSIS UPDATE: EURUSD reached out to all the final target-zones and is now still in a precarious bearish continuation setup.

Comment:

MACRO UPDATE: The massive inflationary pressures in the Eurozone and the ECB continuation of a restrictive high interest rate policy are putting a further bearish edge on the EURO.