It will be interesting to see which direction this pair takes overnight and into the morning.
I will be placing several SELL orders if the price dips below the neckline
Price may either:
a) continue climbing to left shoulder height,
then begin a bearish trend
b) reach neck line, begin bearish trend
c) Begin bearish trend, fall below neckline,
I believe the EUR/USD price will continue to fall, retest to around 1.103 and then restart its bearish trend. I will be placing a SELL trade at the 1.10250 mark, just below the previous high (1.10325), and another at 1.10300.
I have put my STOP at 1.11000. This is in case the higher trend is tested (dashed dark blue line).
My initial take profit is around the...