Tick,Tick,Tick Boom!
The bears sharpen their claws, as the head and shoulders pattern on the one day chart gains attention. A break of the 1.60500 level will lead to an immaculate drop to the 1.57000 support area. The bad news doesn't stop there, the European central bank is expected to cut rates twice in the coming weeks, This may open the flood gates to the 1.55000 area. Its difficult to see where the bulls can make an attempt to strike back, for now the bears will be on the attack.
Statton Capital Management.
Russel Botha.
Statton Capital Management.
Russel Botha.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.