Pip.Gawd

EUR/USD About to Complete Right Shoulder on H&S Pattern

Short
FOREXCOM:EURUSD   Euro / U.S. Dollar
After looking at the long term trend of the EUR/USD on the daily and weekly, it has become apparent that a possible head and shoulder pattern could be forming now. If this is the case, I am expecting the pair to test the 1.1890 area and completing the right shoulder, before reversing back down. We can then Initiate the Short trade and ride this thing down for some weeks, especially leading up to December when rates should rise. Another supporting fact to my USD strength position is that after doing some bond research, it seems like rates have more upward potential than downward, meaning a more attractive currency.

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