Apparently I think I was wrong in my last analysis about EURUSD to be bullish.
The Head & Shoulders pattern has been created in H4 and there is a negative regular divergence between the left shoulder and the head.
On the other hand, the histogram bars of MACD are still in the bearish phase.
Since the reversal H&S pattern is created, IF the neckline broken out to the downside, I expect a downside move for the price to touch the demand zone.
IF price fell to the demand level and there was any upside push, then we might see the bullish pressure and growth in price.
I’m on the bearish side on EURUSD for now. Let’s see what is the reaction of the price to the demand zone in the next few days!
What is your opinion? Feel free to share your ideas in the comments with me!
The Head & Shoulders pattern has been created in H4 and there is a negative regular divergence between the left shoulder and the head.
On the other hand, the histogram bars of MACD are still in the bearish phase.
Since the reversal H&S pattern is created, IF the neckline broken out to the downside, I expect a downside move for the price to touch the demand zone.
IF price fell to the demand level and there was any upside push, then we might see the bullish pressure and growth in price.
I’m on the bearish side on EURUSD for now. Let’s see what is the reaction of the price to the demand zone in the next few days!
What is your opinion? Feel free to share your ideas in the comments with me!