Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1406. According to the H4 time – frame, I found the confirmed breakout of the head and shoulders pattern in the background, which is a sign that sellers are in control and that buying looks risky. I also found successful re-test of the neckline, which is another sign of weakness. My advice is to consider selling opportunities. The projected target is set at the price of 1.1305.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1406. According to the H4 time – frame, I found the confirmed breakout of the head and shoulders pattern in the background, which is a sign that sellers are in control and that buying looks risky. I also found successful re-test of the neckline, which is another sign of weakness. My advice is to consider selling opportunities. The projected target is set at the price of 1.1305.
The material has been provided by InstaForex Company – www.instaforex.com
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