Euro / U.S. Dollar

EURUSD anticipates a reversal in head and shoulder pattern

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As the attention shifts to the Fed event with analysts expecting a hawkish hold by the central bank, the EURUSD can be seen printing out a Head and Shoulder pattern with the bears swinging in at the right shoulder. The Euro has been on a slide following last week’s dovish hike by the ECB as the eurozone remains plagued by stagflation. A clear sell signal will materialize when we see the price clear the neckline around 1.0675

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