The 5%ers' Blog

Head and Shoulders Potential On EUR/USD

April 7, 2019 | 1:23 pm | The 5%ers' Blog
April 7, 2019 | 1:23 pm
The 5%ers' Blog

Sunday  07/04/2019

It seems the bearish trend in the H1 chart has ended,

The EUR/USD price now starts to create a Head and Shoulders pattern, which is usually a reversal pattern.

For now, the Head and Shoulders pattern is almost Completed, if the EUR/USD price will break out the confirmation zone which is also the neckline of the pattern,

It indicates the price tends to reach the supply above.

In case the price will break The resistance above I’ll look for price action setup for buy position,

The target will be the supply at the top which is also a great supply of sell position,

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