Based on the chart above I believe that EURUSD will continue its up movement. My idea simple based on the rejection of the hypothesis. Once the EURUSD reached 1.1353 level started a sideways movement. This sideways movement resulted in the Head and shoulders pattern. This pattern was strongly formed when price broke the neckline and formed a bearish candle which indicated that there is a high probability for the price to drop down and head and shoulders pattern has been formed. But instead of that the price reject going down and went up and broke the neckline and went above it to the same level of the right shoulder and dropped down until it made a new higher low. So Simply the hypothesis of price going down is rejected which means that the price will either go up or sideways. And based on historical data EURUSD will not move in sideways more than three tops and three bottoms before make a new up or down movement, and since the above sideways made three tops and three bottoms, the remaining hypotheses are that EURUSD will go up which I strongly agree with.
Trade stängt: målet nått:
THIS IDEA HAS BEEN ACHIEVED