Nov 05 2018

Neckline Pullback – Head and shoulder pattern (EURUSD)

EURUSD:-A report shared on 22nd October 2018 on EURUSD a price reversal pattern head and shoulder pattern seems worked well. On the down break of neckline support at 1.1400, we had indicated that the pair can met its desired pattern targets which after calculation had came at around 1.1100 (a 300 pips fall). The pair break downs the neckline support just after 2 days on 24th of October 2018, and had continued its fall till 1.1302 mark. After-that EURUSD had got the support at its previous trough (1.1301) posted on 15th August 2018. Usually, a pullback or throwback towards the breakout zone generally occurs, which in this case had happened on 1st and 2nd November 2018 (1.1302 to 1.1455). Present pullback is giving an option to enter for short in EURUSD till 1.11 mark, those who have missed the chance can enter again to enjoy the bear ride for the said targets.