EUR is tending lower

Morning guys,

Last week was a reversal one right from strong daily resistance. As a result, we've got bearish engulfing pattern on weekly chart, which, as a rule,
takes the shape of AB=CD action on lower time frames.

Since we also could recognize H&S shape here, our expectation is EUR should reach ~1.1450 area, by forming right shoulder and upside retracement first,
as it is shown on the chart:

Deeper all time frames EUR analysis and fundamental market background you could find on our signature link.

Trade active:

Today EUR touches this support line with butterfly "Buy" on hourly chart that could trigger upside leg and right arm of H&S that we're watching here.