EURAUD has formed an inverse head and shoulders on the 1h chart prior to the EUR unemployment rate data, which measures the number of people unable to find employment in the Eurozone. Technically the pair has broken the neckline of an inverse neck and shoulders pattern, and we anticipate continued upside into the 1.6320 level.
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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.