A Pullback to the 50 fibonacci level / new channel top expected. If there is a break out of channel & the 61.8 fib I believe price will pull up to 1.18500-1.18650 to complete the right shoulder of the daily H&S Pattern. Multiple rejections & triple top to 1.20500 & break out of uptrend channel signaled a reverse of trend. I expect euro to lose more strength as it looks like across many euro pairs for this upcoming week. Will be watching price action once reaching the top of its new pink channel.
Trade with care!
Trade with care!
Note
DAILY: If there is a breakout of the 4 hour channel, a pullback to 1.1900 is even possible to complete head on shoulders pattern. Just something to keep in mind Note
price potentially breaking out of wedge, we could get a retracement to the upside to complete the right shoulder of the daily H&S pattern..Note
breakout target would be 1.18800Note
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