With the H&S Pattern completed sometime ago, this pair Hit the support that lied in the region of 1.11500, from there onwards it started a rally that went back and tested the neckline of the H&S pattern. With the eurozone economy slowing down, we can expect the price to drop again towards the lower end of the range.
To do this, the weekly candle must breach the weekly 50 EMA and close below it. After that we have enough confirmation that the price is likely headed back southwards.
To do this, the weekly candle must breach the weekly 50 EMA and close below it. After that we have enough confirmation that the price is likely headed back southwards.
