EUR/USD Technical Highlights:
- EUR/USD rolling over in the direction of a lower-low
- A breakdown may lead worth to the neckline of a H&S sample
EUR/USD is rolling over in the direction of the June low at 11847, which if damaged will result in a extra substantial line of assist that might represent the neckline of a broad head-and-shoulders sample. However earlier than worrying in regards to the longer-term sample, we’ll wish to take note of how worth motion performs out on the June low. If it holds then maybe a bigger congestion sample types earlier than buying and selling decrease. It should take a good quantity of labor at this juncture to show the outlook bullish. If the low fails, then look ahead to a decline to the would-be neckline working over from September within the mid-11700s. This is able to be an enormous degree to check.
For the total particulars, try the video above.
EUR/USD Each day Chart (rolling in the direction of huge check)
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—Written by Paul Robinson, Market Analyst
You possibly can comply with Paul on Twitter at @PaulRobinsonFX