Head and shoulders
pattern has formed nicely, price has just touched the neckline for a successful failed retest. This was due to the EURO
falling to 1.1920 area for support, i believe both pound and euro
are going to finish strong this year. Investment banks such as Goldman Sachs have even predicted a weak year for the dollar. I see the DXY
falling to create new lows at around 90.80 area before falling even more, this will also reflect in EUR/USD
as they will continue to make new highs. 50 EMA
and 100, 200 SMA'S both clearly above price now. Stoploss at around 92.83 while target at 90.82, looking to hold this for a couple months will give updates on new targets.