"Specific situation on EURUSD" by seediee in Dukascopy Forex Community
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Specific situation on EURUSD

Today EURUSD is in specific situation. As we already know Head and Shoulders is a reversal pattern and is spotted in uptrend. The higher the TF is the stronger the pattern is. This is a specific situation. What you think?

EURUSD indeed has been good for shorting last 2 days at the top of the right shoulder and the price went to 3324. The problem lies that that is not the true strength of the pattern as NECKLINE needs to be broken prior to heavy selling, not the shoulder itself. Now there is a mini channel formed around right shoulder which gives me a conclusion: While EURUSD is capped below 3380, targets are 3350 and 3325. If 3325 is broken 3275-3260 is the target. Do you agree with me?



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Furian avatar
20 Ago

just relax.. all up moves are simple sl hunting... massive drop in this pair expected as speculation regarding tapering increase starting from september

seediee avatar
20 Ago

Tnx people Only thing you missed is taking some profit here! :) EUR/USD reaches 6-month highs ahead of FOMC. The Euro finally did it and the EUR/USD broke above the 1.3400 area and reached its highest level since February at 1.3450. Great rally happened today! :)

ivanbgd avatar
21 Ago

breaks down in :-)

Panzer avatar
22 Ago

Like for this analisis..))

seediee avatar
26 Ago

thank you! :)))

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