EURUSD LONG POSITIONEURUSD price broke descending wedge pattern and failed to break prior structure high to create a new higher high structure but since we are bearish on the DXY we are still looking for longs on this pair.. now there's a bullish head and shoulders pattern inside the descending wedge pattern and a symmetrical triangle pattern , looking for a break out in up side direction and enter on a retest but if price breaks symmetrical triangle pattern to the down side I have my AB=CD pattern D leg completion at 1.19700 colliding with my demand zone , that's another area I'd be interested in getting long.
Have a profitable trading week
Lets see if it goes to plan
This pair is ready to take on some bearish pressure after wiping out minor sellers and previous structure.
You could sell from this region here or wait for a clean crossover the horizontal arrow marked.
Price is forming a head and shoulder pattern on multiple time frames,
My preferred entry is to see price attempt to break under the 4h zone towards the central daily channel support level .
Fib 0.5 is around 1.20600 and lines up with the central support and left shoulder.
Line up your confluences and only risk what you can afford to lose if you take this trade.
TP somewhere around 100 pips
