At the first glance is very clear that a H&S is on the way with left shoulder and the head formed, but this pattern is going to run out of steam if price will rise more than 1.335 and in this case H&S won't be valid any more. On the other hand is likely to see a M shape and in the last case a Triple Top. Although it's very hard to forecast where the exchange rate will be in two months but i can assume a possible value around 1.28. A hard resistance is around 1.346 and a good support is around 1.275.

Translate to English Show original