EUR/USD Inverted Head and Shoulders on 4h Time Frame

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

The EUR/USD has formed inverted Head and SHoulders pattern straight at W L3 and ATR projection low confluence just at the median channel line. We could see a bullish bounce.

As long as the EUR/USD is holding above 1.2250 it is bullish. 1.2280-90 could spike the price up towards 1.2218 and 1.2237. However, a clear break (and 4h close above) of 1.2373 is needed for the pair to proceed further up. Only below 1.2250, the pattern would become invalid and the EUR/USD could drop to 1.2208.

.

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of