0
0
EURUSD
A fairly wide range of motion may blur the look at the chart a bit, but in the H4 and D1 time frames you can see the formation of an inverted head and shoulders pattern. Of course, as I write from the beginning of running the portal, we do not enter until the formation is confirmed, but it is worth knowing that it may be there. The pattern will be confirmed only when the price will cross the resistance formed by both arms (marked with the blue line). When breaking the shown resistance, the correction will be the place to enter, as marked with the arrow.
A head to shoulder pattern usually marks the end of the current trend and the start of a new one. In this situation, it may be a large appreciation of the Euro against the dollar and a breakthrough of the highest price point shown in the picture.
