EUR/USD Bears are Still in Control

Dear Traders,

The EUR/USD has formed two bearish structures. Back-to-back SHS patterns which might give us entries based on the breakout and POC zone.

Small SHS pattern might provide a breakout entry if the pair goes below 1.1785. In that case we could see a move down to 1.1768, 1.1750 and 1.1720 which is slightly below the projected low at 1.1733. A bounce up might hit the POC zone 1.1850-70 and the market might start turning down from that point due to the huge SHS pattern and the top of the right shoulder. Higher TF Bollinger Band also adds to the confluence. 

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea