EUR/USD: There is a Bearish Head and Shoulders pattern

Tian Kriek

Analyst


April 29, 2021 05:08 AM

BULLISH

Daily Trading Range:
EUR/USD: There is a Bearish Head and Shoulders pattern on the Weekly chart that appeared after the most recent counter trend line was broken. Price is establishing the Right Shoulder which means that the Direction of Highest Probability is Bullish, On the Daily chart I can see that price is retracing inside the Down AB Boundary and therefore the Probability is also Bullish Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/aod-ny-workspaces-29-apr/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.7000
Resistance 2: 1.5000
Resistance 1: 1.2000
Current Price 1.2090
Support 1: 1.1100
Support 2: 1.0500
Support 3: 1.0000

Two Hour Chart

Two Hour Chart
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