EUR/USD Price Analysis: Bulls could be about to make a move

EUR/USD is carving out an inverse H&S.
The bulls are eyeing the price imbalance on the daily chart to the upside.

Ross J Burland FXStreet

EUR/USD has been offered while the dollar rallied as risk appetite was dampened by economic uncertainties and escalating US-China tensions. However, from a technical perspective, there could be some gas left in the bulls yet and the following illustrates a bullish scenario for the days ahead.

EUR/USD daily chart

The euro is under pressure but could be on the verge of carving out an inverse head and shoulders. This is a bullish pattern that could lead to the price running higher into the area of price imbalance between 1.0293 and 1.0416.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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