EURAUD Head and shoulders forming

Simple head and shoulders play - worth noting that Euro looks very weak against USD since NFP and the level of bullish commitment on the Euro provides a lot of potential to unwind. Without worrying too much about fundamentals, though, this pattern looks to be setting up nicely. Wait for the neckline to break!

Kommentera:

The head and shoulders pattern has repeated itself, and looks like a double top on the higher timeframes. Still looking for a proper break but I think this short could still work out