We have a Head and Shoulders pattern that has formed on EURUSD with a clear neckline. The October 27th candle has closed past the neckline, and I am now expecting a test of the neckline to confirm it as valid resistance. If this event occurs, then I am targeting the 1.618 fibo level as my profit target and the 2.618 level as the extended target, with the stop loss a few pips above the 1.0 level.
