EUR/USD: Head and Shoulders Bottom in Place?
Strategy: Pending Short
EURUSD looks to be putting in a Head and Shoulders bottom, with a daily close above the formation’s neckline at 1.2570 – the 38.2% Fibonacci retracement of the 4/12-6/7 downswing – serving as confirmation of a major upswing ahead. We remain overall bearish and will look for a deeper correction to yield an attractive selling opportunity in the days and weeks ahead.
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