EURUSD May Form Head and Shoulders

hey traders,

just an update for EURUSD based on followers requests :)

my bias on EURUSD remains bearish.
thought the recently formed horizontal range was broken to the upside,
we see an immediate rejection and the market has returned back within the range.

It looks like now there is a high chance to see a head and shoulders formation with the market currently forming the right shoulder.

if so, we will be focused on a neckline of a pattern and wait for an occasional bearish breakout.
it will confirm our predictions and only after we will sell.

Kommentera:

Answering a common question:
technically speaking right shoulder should be just lower than the head level.
so pattern still can be formed