February 24 2021 EURUSD Head and Shoulders Neckline

Every attempt down from current range leads to a strong bounce up same can be said about support however support still manages to get down to new highs while as resistance has only managed to pull prices up to new higher lows. Prices are reaching the bottom of a bull trend line on a bull channel leading me to be bullish overall. in the 12 hour time frame prices appears to have formed a inverse head and shoulders pattern and prices are approaching the neckline. with all scenarios considered likely to be able to swing up till the supposed neckline at the January 12 high taking partial profits and scaling in at major S/R levels.

Dagangan ditutup: hentian tercapai:

Turns out that resistance level was holding stronger than support level.