Long term Euro weakness

If we zoom out and take a look at the longer term time frames, most of the Euro pairs are setting up with potential head and shoulders pattern.

One example is the EURGBP. The peak of the right shoulder may have just formed so will be keeping an eye out for the break of the neckline.

Please give this trade idea a THUMBS UP and I will keep you updated!

Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

Kommentera:

Price has just tapped outside the neckline and holding.

I will wait for a break of this pivot low to enter a short position.

Stop orders set and waiting game for the move down.