VincePrince

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

FX:EURUSD   Euro / U.S. Dollar
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!
"The key to success is to focus on goals, not obstacles."

Information provided is only educational and should not be used to take action in the markets.
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Comments

Same view,great job Vince
+1 Reply
VincePrince Sobhan_23
@Sobhan_23, Thanks a lot! All the best to you.
Reply
Excellent been waiting for such an idea to play out hope to see lows of weekly or as you show a retest of somewhat W, or broken resistance turned support
Break of 1.1992 is on bulls radar as that's an important level making 1.2200 important key level.
Definitely know the range gone be an account killer so we'll like to see it up into 1.20200/600
Maybe 1.2100 if pushing it

+1 Reply
VincePrince GCGoldenCircle
@GCGoldenCircle, Thank you and thanks for sharing, interesting as well.
Reply
Looking good brother Vince
+1 Reply
VincePrince TheSignalyst
@TheSignalyst, Thank you brother
Reply
lovely work Vince 👀🙌
+1 Reply
VincePrince caldooninvestment
@caldooninvestment, Many thanks, all the best.
Reply
Fire content 💯
Reply