Most EUR Pairs Forming H & S Pattern! Behold The EURCHF
In my personal analytical opinion its when a H & S pattern opportunity appears, its always a great set up provided you have done thorough technical analysis!. Recently for the last few months and weeks most EUR related are forming this pattern with many eyes being on the EURUSD itself. However, we traders seek not only good technical analysis but what set up could give us a better risk to reward scenario in return. Due to many EUR pairs forming this pattern its safe to say that once the neckline is violated we need observe what pair has least resistance path which can help us achieve our take profit levels with ease!
EURUSD has many supporting structure that can prevent the EUR from sliding down to the required target. In my personal analytical opinion EURCHF has the best path of least resistance and it gives a better risk to reward ratio compared to other EUR pairs.
Once the weekly candle closes below the neckline, i will wait for the retest of the neckline on the weekly chart before i can enter this trade. Its a pretty high probability set up as the price has rejected the crucial resistance and the next support on the monthly time frame is present far away from the neckline of the pattern.
Its an exciting analysis and it remains to be seen how the EUR pairs react in the coming week ahead. Any updates regarding the signals would be available once the criteria is met. Lastly do NOT ever underestimate the power of the EMA 21, 50, 200. Cheers have a nice day
EURUSD has many supporting structure that can prevent the EUR from sliding down to the required target. In my personal analytical opinion EURCHF has the best path of least resistance and it gives a better risk to reward ratio compared to other EUR pairs.
Once the weekly candle closes below the neckline, i will wait for the retest of the neckline on the weekly chart before i can enter this trade. Its a pretty high probability set up as the price has rejected the crucial resistance and the next support on the monthly time frame is present far away from the neckline of the pattern.
Its an exciting analysis and it remains to be seen how the EUR pairs react in the coming week ahead. Any updates regarding the signals would be available once the criteria is met. Lastly do NOT ever underestimate the power of the EMA 21, 50, 200. Cheers have a nice day
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