Higher TF Short, Lower TF LongW/ the Monthly candle closing bearish engulfing suggests we can anticipate a retracement of the rally the Euro has seen against the dollar
On the Daily TF we can see the formation of a Head and Shoulders pattern beginning to form the right shoulder
On the 8H TF we can see price has almost formed a Bullish bat as it gets closer to 88.6 Fib level
Will be monitoring Price Action @ 1.17 price to see if we get a Bullish set up
If we do see a push back to upside we can see targets @ 1.191
From there we will be looking for Lower Lows and for price to show a trend reversal to the downside
