Technical Analysis

EURUSD: Different analysis methods and one result!


A few days back, we have presented our bearish overview forthe EURUSD, using Ihimoku studies. The EURUSD has adopted favorable reaction to our suggested scenario as seen on the charts below.

Having a look at the pair from a pure classical overview, we will be able to notice that, bears succeeded in hauling the EURUSD pair below the neckline for the head and shoulders pattern.

More bearishness remains in store, chiefly targeting 38.2% Fibonacci level of the entire bullish wave from 1.0337 to the significant peak of 1.2092, while scientific targets of our short trade resides in the 1.1250 territories.

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