EURUSD (H4) : It will follow Head and Shoulder Bearish Pattern??
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EURUSD (H4) : It will follow Head and Shoulder Bearish Pattern??
1. Bearish Head and Shoulders Pattern (Daily Chart):
a. Recently, the EUR/USD closed at 1.2049, confirming a head-and-shoulders bearish reversal pattern on the daily chart.
b. The breakdown is supported by a below-50 reading on the 14-day Relative Strength Index (RSI).
c. The measured move method suggests a potential sell-off target around 1.1750.
2. Inverted Head and Shoulders Pattern (Daily Chart):
a. Interestingly, the false breakdown on the weekly chart corresponds with an inverted head-and-shoulders pattern on the daily chart.
b. If confirmed by a break above the neckline near 1.1700, this pattern could signal a reversal of the near-term bearish trend.
c. The measured move objective for this pattern would be around 1.2100.
LIKE👍, COMMENT 💬 & FOLLOW ➕, these figures can encourage me to analyze more efficiently for you. My all followers are requested to support me, comment my ideas and share your thoughts in comment box and new comers are invited to follow and support me.
1. Bearish Head and Shoulders Pattern (Daily Chart):
a. Recently, the EUR/USD closed at 1.2049, confirming a head-and-shoulders bearish reversal pattern on the daily chart.
b. The breakdown is supported by a below-50 reading on the 14-day Relative Strength Index (RSI).
c. The measured move method suggests a potential sell-off target around 1.1750.
2. Inverted Head and Shoulders Pattern (Daily Chart):
a. Interestingly, the false breakdown on the weekly chart corresponds with an inverted head-and-shoulders pattern on the daily chart.
b. If confirmed by a break above the neckline near 1.1700, this pattern could signal a reversal of the near-term bearish trend.
c. The measured move objective for this pattern would be around 1.2100.
LIKE👍, COMMENT 💬 & FOLLOW ➕, these figures can encourage me to analyze more efficiently for you. My all followers are requested to support me, comment my ideas and share your thoughts in comment box and new comers are invited to follow and support me.
Trade active
Trade active
If the Market moves accordingly in the direction which is represented on the chart it may reach the upper resistance which is represent by trending line in the uptrend direction and if the asset fall and break down the support then I will be strong actually with my given sell direction. Note this that there is no personal financial advice to anyone.
Trade active
For more updates, I will updates the analysis very soon.Note
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Technical Analysis (4-hour chart):
The chart shows the EUR/USD exchange rate over time.
The current rate is approximately 1.12243.
There is a potential bearish opportunity if the price continues to act close to the level indicated.
A pattern resembling a “Head and Shoulders” formation suggests a bearish trend.
The target for this potential trade is around 1.10456.
Key Levels:
Resistance: 1.11661, 1.11400, and 1.11200.
Support: 1.11000, 1.10800, and 1.10600.
Trade Strategy:
Consider selling if the price breaks below 1.11000, targeting the support levels.
Keep an eye on the 1.08400 level as a potential target for a deeper pullback.
Note
Now, the analysis is going in my direction which was already forecasted on the chart. For more updates, I will updates the analysis very soon.
Trade active
Bullish Formation:
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Two-week outlay: EUR/USD encountered a longer-term Fibonacci level in early March, resulting in a strong upward move.
Ascending Triangle: On the four-hour chart, an ascending triangle has formed, suggesting a potential bullish breakout.
Bearish Formation:
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Rising Wedge: On the daily chart, a rising wedge pattern has emerged. Rising wedges often signal bearish reversals.
Key Levels: Minor support areas lie at 1.0750, 1.0725, and 1.0695. Below these, watch for the week’s swing low around 1.0645 and April’s level near 1.0600.
Trade closed: target reached
Almost achieved my TARGET.
Congratulation to the all followers and supporters
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