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EUR/USD Bullish SHS Pattern Within 1.1350 Zone

Nenad Kerkez
Updated

The EUR/USD has formed a bullish Head and Shoulders pattern with the right shoulder being within 1.1350 zone. If the price closes above the trend line, it will mean a potential breakout to the upside targeting 1.1477. However if the price breaks below 1.1330, we could see a retest of 1.1300 with a potential for a further break lower

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W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

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M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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This article was originally posted on FX Empire

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