A nice inverted Cup and handle is formed, expecting it to follow the yellow arrow line. Buy on dips. If one looks carefully, the price action also indicates a nice H&S pattern as well, head at 0.99443, left shoulder and right shoulder at 0.99113. Thus, if this formation holds true, then, the price action should retrace slightly, touching the 21 EMA before going up. Note that overall price is in an uptrend for now.
All the best to everyone!
All the best to everyone!
Trade closed: stop reached:
Day chart shows it has fallen to the 38.2 FIB level, if this is not sustainable for a pullback, it will head south towards 0.97288 price zone (50% FIB level).
We reverse from sell to buy for EURUSD which explains the temporary downfall for this pair.
We reverse from sell to buy for EURUSD which explains the temporary downfall for this pair.
