The EURUSD pair has formed a notable inverted head and shoulders price pattern on the four-hour time frame, with an upside target of nearly 150 points.
The Stochastic indicator on the four-hour time frame is approaching overbought territory so a price rebound in the EURUSD pair could happen at anytime.
What the possible outcomes are
In our most likely scenario, the EURUSD pair will start to rally towards the 1.1970 level after breaking past the 1.1900 resistance area.
Alternatively, the EURUSD pair corrects one final time back towards the 1.1770 support level and then starts to rally towards the 1.1900 resistance level.
Support 1.1800 1.1770
Resistance 1.1900 1.1970
Written by Admin
Check out the companies making headlines before the bell:Travelers (TRV) – The insurance company reported ...
The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF ...
Jamie Dimon, chief executive officer of JPMorgan Chase & Co.Giulia Marchi | Bloomberg | Getty ...