EUR/USD Inverted SHS Pattern Suggests Bullish Uptrend Cont

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi traders,

The EUR/USD has formed a bullish SHS pattern (Shoulder-Head-Shoulder) or inverted Head and Shoulders as traders also call it.

I am bullish on this pair. The POC zone is 1.1365-75 and rejections from the zone target 1.1390. The price NEEDS to close above 1.1390 for a continuation towards 1.1415 and 1.1440. However a drop and close below 1.1350 will put the pair in neutral mode again and we might see yet another boring range play. MACD and MTF BB support the bullishness too.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

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

  Subscribe  
Notify of