Divergence forming on the trend line touch in the near future by RSI, this touch will be in line with 50% fib retracement and you should look for candlestick formations for a buy at this location with stoploss on 61.8 and target at 0.00 fib which will be the next resistance. This is a good risk reward of 1:3
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So I'm expecting EURUSD to fall to 1.18040 zone before heading back up to 1.18725 zone which aligns with the descending triangle and double top formation and the new downtrend line proceeding the head and shoulder pattern, this also aligns with the possible shoulder being completed...
So long story...
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This is my analysis and not signal service and should be used in line with your analysis if it helps. I adapt to the changes in the market continuously using candlestick patterns and chart patterns combined with CCI on multiple timeframes to help me decide my next move. I will be looking at the level...
