EUR/USD Bullish SHS Pattern On H1 Time frame
|The EUR/USD has been following the technicals perfectly as I showed on my previous Session Recap and Live webinars. Both entries (long and short) have been respected and at this point we can see a possible uptrend continuation. Bullish SHS (inverted head and shoulders) pattern formed straight above the ascending trend line making the POC zone 1.1940-50. If the price retraces to the POC we might see a spike. However a clear break or 4h close bove 1.1995 is needed for a continuation towards 1.2020 and 1.2060. If 1.1910 support is taken out, bull will probably lose the steam and the pair might drop tp 1.1870.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.