inverted head and shoulders (reversal pattern)
i expect a big pull back on this pair before going long again
price respected monthly resistance by created a double top scenario 1- wait for price to reach 87.300, that key level going to act as the neckline of the double top, if price respects it don't hesitate going long scenario 2- if price breaks 87.300 and closes above then wait for a retest of structure before going short
Price action has retraced back to daily support which was previous resistance in the past
Price action has broken trend line and as also retested it which resulted on the big drop easier on today, and head and shoulders which is why I'm selling this pair
Price action is currently trading in a flag creating higher highs and higher lows, price has rejected the 1.20430 zone and its now melting down to our next area of support which is the green box. In that area ill look for bullish confluence to take a a swing trade expecting the euro creating new structure highs.
inverted head and shoulders on the daily time frame