EUR/USD Inverted SHS Pattern Suggests Bullish Uptrend Cont

Hi traders,

The EUR/USD has formed a bullish SHS pattern (Shoulder-Head-Shoulder) or inverted Head and Shoulders as traders also call it.

I am bullish on this pair. The POC zone is 1.1365-75 and rejections from the zone target 1.1390. The price NEEDS to close above 1.1390 for a continuation towards 1.1415 and 1.1440. However a drop and close below 1.1350 will put the pair in neutral mode again and we might see yet another boring range play. MACD and MTF BB support the bullishness too.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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