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/USD Daily Chart (neckline support of H&S pattern)
Resources for Forex Traders
Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.
---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
