Were back after a wonderful Easter holiday, we needed to refresh our minds.
What we have noticed is a possible H&S pattern setting up on Eur/Usd while price remains below 13150 we will look to build shorts into this.
When the EURUSD was trading 1.2800 and the people were continuing to lean aggressively against the euro we said to our clients …
“We may see a right shoulder of a bearish head and shoulders develop here over the next month or so. From this, we might consider a range for the EURUSD taking shape between 1.2650ish -1.3150ish.
we’ve quickly visited the topside of that projected range
And now, that scenario of a right shoulder formation is looking pretty good.
Now, with growing expectations of a rate cut from the ECB, and potentially more “extraordinary easing” policies to help curb the Eurozone’s growth deficiencies, this scenarios continues to look good –…
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