Hi Traders!
EURUSD has a potential inverse head-and-shoulders pattern forming on the 4H chart.
Price Action π
Recent higher market swings with higher highs and higher lows, and the market is currently above the 20 EMA.
We are looking for a bullish momentum break above the neckline.
Fundamental Analysis π°
ECB President Lagarde continued her hawkish stance by repeating that interest rates in the eurozone will remain high for as long as needed.
Support π
1.05707: 20 EMA
Resistance π
1.05936: NECKLINE
Risk β οΈ
No more than 2% of your capital.
Reward π°
At least 4% of your capital.
Please make sure to click on the like/boost button π as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD has a potential inverse head-and-shoulders pattern forming on the 4H chart.
Price Action π
Recent higher market swings with higher highs and higher lows, and the market is currently above the 20 EMA.
We are looking for a bullish momentum break above the neckline.
Fundamental Analysis π°
ECB President Lagarde continued her hawkish stance by repeating that interest rates in the eurozone will remain high for as long as needed.
Support π
1.05707: 20 EMA
Resistance π
1.05936: NECKLINE
Risk β οΈ
No more than 2% of your capital.
Reward π°
At least 4% of your capital.
Please make sure to click on the like/boost button π as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Order cancelled:
Entry was not triggered. Pattern failed.