EUR/USD: 'Head & Shoulders' pushed price higher

EUR/USD: 'Head & Shoulders' pushed price higher

14-5-2018-EUR-H4.png

The main trend is still bearish. At the same time, there's a 'Triple Bottom' pattern, so the price is rising. However, if a pullback from the 55 Moving Average happens little later on, there'll be a moment for another decline.

14-5-2018-EUR-H1.png

We've got a 'Head & Shoulders' pattern, which led to the current upward price movement. Also, there's a broken 'Pennant', so the market is likely going to test the next resistance at 1.2025 - 1.2031 in the short term.

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