Euro / U.S. DollarShort
EURUSD
Monthly Time Frame:
Confluences
Conclusion
*Will Price Action (P.A) reach the weekly support of 1.15000 as the next downside target?
OR
*Price Action (P.A) looking a head and shoulders pattern is currently forming?
Confluences
- Price Action (P.A) currently printing lower lows (L.L) and Lower Highs (L.H), therefore Price Action (P.A) is currently in a downtrend.
3rd bounce of trend-line.
Inside bar formation highlighted by the yellow rectangle .
Bearish Shooting star candle.
Price Action (P.A) currently printing a bearish marubozu candle.
200 EMA currently acting as dynamic resistance.
Conclusion
*Will Price Action (P.A) reach the weekly support of 1.15000 as the next downside target?
OR
*Price Action (P.A) looking a head and shoulders pattern is currently forming?
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