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