PRE FOMC Coverage: EUR/USD Bearish Head and Shoulders For Possible Drop
|On hawkish FOMC, the EUR/USD could drop from POC and POC2. POC 1.1180-1.1200 (D H3, Top of Left Shoulder, ATR Pivot) could reject the price lower towards 1.1150 and 1.1080. In the case of deeper retracement (less hawkish FOMC or dovish FOMC) the POC2 1.1220-30 (D H4, ATR Pivot) could reject the price down IF the price stays below 1.1270. Above 1.1270, 1.1300 should be exposed.
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