For one month now, I have been calling for a possible inverse head and shoulder on the EUR/USD chart.
It has finally happened. The spot is just a few pips away from the neckline hurdle seen around 1.08 levels.
A daily close above the same gives us an upside target of 1.13 (measured height method). However, treasury yields are on the rise, plus we have 200-DMA positioned around 1.09 and the psychological resistance at 1.10
It has finally happened. The spot is just a few pips away from the neckline hurdle seen around 1.08 levels.
A daily close above the same gives us an upside target of 1.13 (measured height method). However, treasury yields are on the rise, plus we have 200-DMA positioned around 1.09 and the psychological resistance at 1.10
