Head and Shoulders on EUR/USD

Head and Shoulders on EUR/USD

The current technical pattern indicates the correction of the EUR/USD currency pair. On the daily chart, the classic reversal figure of the technical analysis called Head and Shoulders was formed, which signals a fall in the EUR/USD quotes. Local support is the level of 1.17250. We recommend you to pay attention to this situation.

If the price fixes below 1.17250, it is necessary to consider sales of EUR/USD. The immediate goal for profit taking is the round level of 1.16000. In the medium term, the EUR/USD currency pair may reach the level of 1.15500-1.15000. Confirmations and entry points to the market should be looked for on lower timeframes. When following a position, one should use a trailing stop.

by JustForex, 2017.12.15

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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