- Completed the head and shoulders pattern with a nice break below the neckline - Price has reverted back to that neckline to retest that price level - Sellers are clearly present as we have not been able to break above the 1.15 even handle - Price has not closed above 1.148 handle - The bullish engulfing candle failed to close with price within a few pips of the high. Price closed 21 pips below the high of Friday's high - Price is also at the top of a descending channel pattern - Price is below 100 and 200 EMA and MA's
@namesergey, Yes there is a bit of support here so it is possible we see a retrace, but I personally don't feel Euro fundamentally is strong enough to have any strong moves up, yet...
but what do you think about this way?