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EUR/USD Technical Outlook: Potentially Large Decline in the Works

EUR/USD Technical Outlook: Potentially Large Decline in the Works

Paul Robinson, Strategist
EUR Forecast
EUR Forecast
Recommended by Paul Robinson
Check out the Q3 EUR Forecast
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EUR/USD Technical Highlights:

  • EUR/USD head-and-shoulders triggered
  • 11000/11100 targeted from here

The EUR/USD broke the neckline recently of a one-year head-and-shoulders pattern and is on the verge of running lower towards a 20-year trend-line. The macro techs help paint a potential path for both intermediate-term and short-term players to use for shaping a trading bias. A sharp move up towards 11900 would go a long way towards erasing the current negative trading bias.

For the full details, check out the video above.

EUR/USD Daily Chart

eur/usd daily chart

EUR/USD Monthly Chart

eur/usd monthly chart

EUR/USD Charts by TradingView

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

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

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