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EURUSD BUY: Weekly, Daily & 4hr Breakdown Analysis.

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Euro / USA-dollar (FX:EURUSD)  
MountOlympusFx Uppdaterad   
FX:EURUSD   Euro / USA-dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD Forex
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EURUSD Long

+ Weekly: Although price has double bottomed at 1.1188. Last weeks candle closed as a spinning top signalling indecision in the market. To me the market is still bearish with moving averages bearish as well.

+ Daily: For 5 days price tried to break above 1.1250 with multiple wick rejections. Finally yesterday price broke through 1.1250 with a bullish engulfing candle, engulfing previous 2 days.

+ 4hr: Head & shoulder reversal pattern has formed with 1.1250(Neckline) broken, now expecting a retest of this level then a possible rally up to 1.1325 to complete the reversal pattern.

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