EU has triggered the inversed Head & Shoulders pattern with a nice, explosive break. The 1,2775 level is the break out level on Monthly tf of LT trendline, which was the significant event on last month close. Normally PA comes back and test the break out level OR the TL from below. Ideally, the projected target of the Inv H&S at 1,2890 will be reached after which price resumes the downtrend. Thus, trading on the Monthly tf, this would be an excellent opportunity, using this pattern as a way of entering.