It is not much here on the chart. What I found is that top of the upside down head and shoulders formation touches the lowest lows from last 2 years May 2016 and August 2015. Those two lows created very strong support/resistance area. Pair is rejected perfectly from this level.
From my experience Upside down head and shoulder formations are very good sign suggesting further trend continuation witch is downtrend on our chart.
TI would set TP are close to 6.00 and SL just above head.
... if pair will consolidate for some time I suspect that 200 ema will push pair lower
From my experience Upside down head and shoulder formations are very good sign suggesting further trend continuation witch is downtrend on our chart.
TI would set TP are close to 6.00 and SL just above head.
... if pair will consolidate for some time I suspect that 200 ema will push pair lower
