- EUR/USD looks to be forming another inverse H + S pattern within an overall larger one I identified in this previously published idea:
- Shoulder neckline of this pattern is @ ~ 1.137, the current 4H candle looks to be rejecting this level as support to form the second shoulder of the pattern
- If price were to hold above this level we would look for a rise back to/above the neckline of the pattern (BLUE DESC TREND-LINE) to confirm the formation of the pattern
- If price were to fail to hold above this level and break through lower this would invalidate the pattern and open the doors to a bearish move lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- If price were to hold above this level we would look for a rise back to/above the neckline of the pattern (BLUE DESC TREND-LINE) to confirm the formation of the pattern
- If price were to fail to hold above this level and break through lower this would invalidate the pattern and open the doors to a bearish move lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL