The EUR/USD continued with its bullish retracement yesterday but the resistance at 1.1250 has so far stopped price from moving higher. As expected in yesterday's analysis, the head and shoulders pattern (purple boxes) is a reversal pattern that cou
...The EUR/USD is building a bullish retracement, which could become a head and shoulders pattern (purple boxes) if price makes a bearish turn at 1.1250. Such a rejection could occur when a bearish ABC (blue) zigzag occurs within the larger consolidat
...The EUR/USD made a bearish turn at the resistance of wave X (purple) as expected and has now posted a lower low. Price could still move higher to build a potential head and shoulders pattern (pink) before completing a fall towards the bottom of the
...The EUR/USD managed to break above the resistance trend line (dotted orange) yesterday but also was unable to push above the Fibonacci levels of wave X (blue) as expected. Only a break above the top (purple) invalidates the larger consolidation zon
...If the EUR/USD manages to break the resistance trend line (orange), then the Fibonacci levels of wave X (blue) are expected to stop price from moving much further. Only a break above the top (purple) would invalidate the larger consolidation zone m
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