A daily Head and Shoulders pattern may indicate a possible trend reversal on the EUR/USD. The pair has made a lower high followed by a lower low. Look to either sell the break of the June 16th low of 13747 with a stop at 1.3933 or wait for a retest of the neckline at 1.40000 with a stop at 1.4204 to target the 200 SMA in the 1.3400 - 1.3342 area.
Best regards,
Gregory McLeod
Course Instructor
Forex Capital Markets LLC
2701 Dallas Parkway
2701 Dallas Parkway
Suite 600
Plano, TX 75093
Tel: +1.972.535.9090
Fax: +1.212.897.7669
Email: gmcleod@fxcm.com
Plano, TX 75093
Tel: +1.972.535.9090
Fax: +1.212.897.7669
Email: gmcleod@fxcm.com
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