The "Euro" put in a Shooting Star candlestick on a test of resistance against the British Pound.
We could possibly be looking at a bearish move.hinting a turn lower may be ahead. A reversal here may give us a right shoulder with will then proceed to give u a "Head & Shoulders" formation which began from around late June. The current setup that is shown is a simple intraday move but if price looks to move lower past "0.8500" our next target should be set at "0.8400"
A break of this support zone and our trend line will complete the "H&S" formation which should give us a great bearish move with the right risk and reward
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We could possibly be looking at a bearish move.hinting a turn lower may be ahead. A reversal here may give us a right shoulder with will then proceed to give u a "Head & Shoulders" formation which began from around late June. The current setup that is shown is a simple intraday move but if price looks to move lower past "0.8500" our next target should be set at "0.8400"
A break of this support zone and our trend line will complete the "H&S" formation which should give us a great bearish move with the right risk and reward
Please leave a comment,like and share.