How a retest from a breakout could play out befor upward continuational move.
Head and shoulder pattern forming to the upper trendline both on the h4 outer trendline and h1 upper. Looking to counter the up channels.
Head and shoulder pattern forming to the upper trendline both on the h4 outer trendline and h1 upper. Looking to counter the up channels.
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Eurusd is enroute.
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Eurusd has arrived at first zone,we wait to see how the current h4 candle plays,should it show upward force resulting in a reversal candle we could see price moving to the 1.10279 resistance should price move beyond the support zone we would be looking for a retest to the zone and continuational downward movement.
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The retest did not make it to the second support zone allowing us to lean towards the market force is to the upside. Check my other analysis on the breakout analysis of eurusd.