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Ok, let's get serious. Euro is unable to recover against USD and every day have a new low. Can't get true the down trendline, and probably we will have a new low (6) here!? Maybe, that will be the turning point? New low and strog recovering toward 1.3220/30!? At the moment I am writing this Eur/Usd is at the 1.3166 and low of the day was 1.3158! Daily MA100 and 200 will probably hold at 1.3146/49 if the pair go lower!?
seediee's Blog
Specific situation on EURUSD
Today EURUSD is in specific situation. As we already know Head and Shoulders is a reversal pattern and is spotted in uptrend. The higher the TF is the stronger the pattern is. This is a specific situation. What you think?EURUSD indeed has been good for shorting last 2 days at the top of the right shoulder and the price went to 3324. The problem lies that that is not the true strength of the pattern as NECKLINE needs to be broken prior to heavy selling, not the shoulder itself. Now there is a min…