Our Head and Shoulders pattern continues to materialize in EURUSD. Last week was significant in that price was rejected again at trendline support-turned-resistance. Further resistance is placed at moving the moving averages. Only a significant re-capture of the 1.18-1.20 area will alleviate bearishness, but since that is unlikely, down is the path of least resistance.
The Dollar is about to mount perhaps the strongest bull run in recent history, thus our fundamental and technical view of the Euro remains short.
If EURUSD takes out the down-trending 'neckline', there is really nothing to stop the market falling fast. If the Dollar continues to hold strong, expect this to be a swift move.
The Dollar is about to mount perhaps the strongest bull run in recent history, thus our fundamental and technical view of the Euro remains short.
If EURUSD takes out the down-trending 'neckline', there is really nothing to stop the market falling fast. If the Dollar continues to hold strong, expect this to be a swift move.