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EUR/USD Technical Outlook: Big-picture Topping Pattern Potential

EUR/USD Technical Outlook: Big-picture Topping Pattern Potential

Paul Robinson, Strategist

EUR/USD Technical Highlights:

  • EUR/USD sitting on the neckline of head-and-shoulders pattern
  • Could lead to a sizable move if neckline broken

The EUR/USD head-and-shoulders pattern is becoming a very distinct possibility as price sits on the neckline of the formation. Given its size and duration it could lead to a sizable move lower. Support is support until broken, so a bearish bias won’t gain traction until a clear breach is achieved.

For the full details, check out the video above.

EUR Forecast
EUR Forecast
Recommended by Paul Robinson
Check out the Q3EUR Forecast
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EUR/USD Daily Chart (neckline support of H&S pattern)

eur/usd daily chart

EUR/USD Chart by TradingView

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---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.