EURUSD after a strong bearish trend finally found support at 0.95.
The pair has gain 9% since its low in September.
The price has been in uptrend and making higher highs and higher lows.
The price has reached to the daily horizontal resistance and 200SMA.
Now the bulls seems exhausted.
The price has printed double top which is bearish sign So trend may be reversed from this level.
The price seems printing inverse head and shoulder pattern. The right shoulder and head has been completed. So bearish signs at resistance zone indicates price can drop from here to complete the right shoulder.
The price can retrace to 0.50-0.618 fib level, where right shoulder bottom will get completed.
The upside targets is 1.1180.
Manage your levels accordingly.
The pair has gain 9% since its low in September.
The price has been in uptrend and making higher highs and higher lows.
The price has reached to the daily horizontal resistance and 200SMA.
Now the bulls seems exhausted.
The price has printed double top which is bearish sign So trend may be reversed from this level.
The price seems printing inverse head and shoulder pattern. The right shoulder and head has been completed. So bearish signs at resistance zone indicates price can drop from here to complete the right shoulder.
The price can retrace to 0.50-0.618 fib level, where right shoulder bottom will get completed.
The upside targets is 1.1180.
Manage your levels accordingly.
