Possible head and shoulders forming

5. Juli 2018

For a long time I've been Bear-biased on EURUSD, but it seems that we might just have a head and shoulder forming within the triangle.

Possible trading options would be to buy low @ 1.16500 or sell high @ 1.19000. Both require patience and a good entry point.

For the buy:
TP1: 1.17600
TP2: 1.19500
SL: 1.15700

For the sell:
TP1: 1.17600
TP2: 1.15000
SL: 1.19500

5. Juli 2018

Anmerkung

Scenario #!:
Small movement, short term, ranging downwards.

5. Juli 2018

Anmerkung

Scenario #2:
Large movement, long term, completion of overall head and shoulders pattern.

5. Juli 2018

Anmerkung

Either way, I believe we can expect price action towards 1.17600.

NFP day tomorrow might just catalyze the whole process.

7. Juli 2018

Anmerkung

38.2 Fibo line not broken. Scenario #1 more possible

9. Juli 2018

Anmerkung

1.17660 reached. Bearish movement inbound if the market plays along.

9. Juli 2018

Anmerkung

Bearish movement confirmed.

9. Juli 2018

Anmerkung

Nice quick 40 pip downwards move from EURUSD. Looks like the currency is right on track for the head and shoulders. Next-up; Draghi speaks.

10. Juli 2018

Anmerkung

Very decent 100 pip move down to the support level.

10. Juli 2018

Anmerkung

Price currently testing old support/new resistance,
Two possible scenarios to follow:

10. Juli 2018

Trade ist aktiv

14. Juli 2018

Trade geschlossen: Ziel wurde erreicht

First target reached! Confirmation of first shoulder.