EURUSD - Approaching critical resistance and potential H&S
I mentioned in a EURUSD video analysis 2 weeks ago that we might see price drop a bit further and then reverse back up to potentially form a head and shoulder pattern. That looks to be exactly what the EUR is doing right now and is now only a short distance from a key resistance level where we will be intently watching for trade setups. I will be watching for price reversal signals at this key resistance zone to get short with the overall trend. Due to the relative bearishness over the past month or two my bias is still solidly bearish and any trades I take will be short positions. The only way I may change my bias on this is if price were to break through this key resistance and show continued bullishness. Although that hasn't happened yet and I will be watching as price reaches this resistance zone for high quality bearish price action candles.
Previous EURUSD analysis will be linked below
Previous EURUSD analysis will be linked below
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