EURUSD has formed a big inverse H&S from which the neckline was broken a week ago. At the moment it looks like it will make a pullback towards the neckline again.
But there are 2 options here, follow the H&S and the blue line, or that green support breaks and we will see a drop for the coming period. It's best to wait for some more confirmation before entering this trade. So lets wait and see first.
But there are 2 options here, follow the H&S and the blue line, or that green support breaks and we will see a drop for the coming period. It's best to wait for some more confirmation before entering this trade. So lets wait and see first.
Note
So the wedge seems to be fully in play now, lets wait for a retest of the former support levels around 1.170ish to try and short it
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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.