Head and Shoulders on EUR/USD

Head and Shoulders on EUR/USD

In the near future, the bearish sentiment may prevail on the EUR/USD currency pair. The current technical pattern indicates the development of the correctional movement. A sufficiently strong reversal figure, Head and shoulders, (D1 timeframe) was formed in the trading instrument. The round level of 1.17000 is a key support. We recommend paying attention to this formation.

If the price fixes below the 1.17000 mark, you need to look for entry points to the market to open short positions. The closest target for fixing profits is the level of 1.15500. In the medium term, the EUR/USD currency pair may reach 1.14000-1.12850. When following a position, one should use a trailing stop.

by JustForex, 2017.10.23

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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