EURUSD Inverted Head & Shoulders
In my opinion, there is a clear inverted head and shoulders pattern within the EURUSD, with Jan 2012 and Dec2012 lows being the shoulders and the long term low of jul/aug 2012 forming the head. With this in mind, the corresponding neckline appears to have acted as support recently and i expect the same to occur again with this current testing of it. I will wait until european data tomorrow and if it appears to be good go long @ market with stop below neckline/trendline. Initial target 1.31 but expect it to go higher if confirmed
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.