We can see that the pair has reached a level that had not been retested since February 2016, and upon touching it, it bounced off and broke the major upper trendline a few days later.
After the ECB meeting and Draghi's talks regarding QE we can assume some further weakening of the euro for the days to come.
We can also see that a H&S pattern formed and I would be considering a short entry after the break and close below the neckline as indicated on the chart
Trade safe and do your own due diligence before entering a trade.
After the ECB meeting and Draghi's talks regarding QE we can assume some further weakening of the euro for the days to come.
We can also see that a H&S pattern formed and I would be considering a short entry after the break and close below the neckline as indicated on the chart
Trade safe and do your own due diligence before entering a trade.
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