EUR/USD en route to 1.23 ?

Hi guys,

The rejection of this H1 candle and at this level (1.24) tends to suggest that the right shoulder is about to end, favouring downside momentum for the pair and thus validating a nice ascending H&S pattern.

Should the neckline break (which I think will), the pair will likely re-test 1.23 and potentially could go lower.

My new target (and probably final one before we see a bounce) is 1.23.

Any sustainable move above 1.24 will invalidate this scenario.

Any like /comment is highly appreciated.

Best,

Jesse

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Neckline about to be tested, let's hope not for too long.....

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Ideally, I want to see now, in terms of volume, a spike as soon as the trendline is clearly broken. This will be an extra confirmation.

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Shorting any pullback here

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This pair is so tiring *sigh*

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Ok it’s time to come down again! Currently trading at 61.8 fib retracement from this morning’s top

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Interesting to notice these kinds of "holes" located at left shoulder, head and right shoulder. These holes are in fact ranging moments between high volumes. We have the impulse (high volume), the correction (low volume) and the impulse (high volume) .

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Neckline about to break on high and increasing sell volume

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ok guys, the game is becoming serious now.

Expecting the pair to fall hard from here

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PB looks to be over, time to go back down again

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The pair is pulling back and forming a parallel channel. Will go down again once it breaks it

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PB is over

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For those of you who are closely watching my anaslysis, this is an important and interesting point:

The neckline has been successfully tested and rejected. It was part of the pullback

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FIBO TARGETS; WATCH THEM CLOSELY GUYS

I am off for the weekend ;-) enjoy it and take care! See you next week for more pips.

My best,

Jesse

Trade closed: target reached

BOOOOM Target reached, nearly 100 pips since my call of yesterday.

I hope you guys nailed it and made lots of profits!

Take care!
Jesse

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Just wanted to show you how prices stopped at fib level as mentioned in my previous post. This is the beauty of trading!

It looks like the pair is not holding and will probably going to test the next support level (fib one). But I'm off the game, enjoying sunny Switzerland and its lake :-)

Bye everyone

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Pretty funny how all the longs and analysts saying it would go to 1.25 are mute

SwissPips

Related publications

EUR/USD: Possible right shoulder in place (Head and Shoulders)

by SwissPips

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