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jaleelrich

EURUSD Inverse Head and Shoulders (3:1 RR)

Long
Euro / U.S. Dollar (OANDA:EURUSD)  
jaleelrich Updated   
OANDA:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Head and Shoulders EURUSD Inverse Head and Shoulders
13
1
trendanalysis chartpattern headandshoulders eurusd inverseheadandshoulders
Let's see if we can't get a nice reversal pattern for a strong buy on EurUsd. Seeing that USD has had terrible economic growth the past few weeks, we should see Eur put up a strong fight here shortly. Remember, wait for confirmation and pullback!
Comment:
For more aggressive traders, look for a buy entry near the right shoulder of the pattern around 1.078. You could exit at the neckline or hold and ride the wave. Happy Cinco De Mayo!
Trade active:
Going to take a small lot size and try to catch the right shoulder formation with USD Bad News Release:

SL 1.071
TP 1.091
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