EUR / USD - FORMATION OF H&S AND BEARISH FLAG IN H1
Updated
Hello everyone today saw a very focused EUR / USD on the news which was very high impact on the EUR / USD where we saw a decrease in the German and EU French rates on the economic calendar today. French Flash Manufacturing PMI today released its PMI rates which are France's Gross Domestic Product at 50.3 a lot lower than predicted by investors as well as Germany released GERMANY Flash Manufacturing PMI which are also gross domestic product or GDP as we all know in our Albanian language and vocabulary it gave its interest at 52.0 as well as a low rate but not to create a problem impact for the European Union as Germany's past GDP was 51.7
On the technical side of the 1-hour chart we see a formed Head & Shoulders and a sell flag or bearish flag in the forex technical language which enabled us to convert and hold the price between zone 1.115 - 1.113 creating a space between this area where the prize was opened on Sunday evening. Expectations are high in this pair expecting a zigzag "elliot wave" but we still have to wait for PMI and USD as it will be a key trading point for the Euro.
On the technical side of the 1-hour chart we see a formed Head & Shoulders and a sell flag or bearish flag in the forex technical language which enabled us to convert and hold the price between zone 1.115 - 1.113 creating a space between this area where the prize was opened on Sunday evening. Expectations are high in this pair expecting a zigzag "elliot wave" but we still have to wait for PMI and USD as it will be a key trading point for the Euro.
Trade active
full formed H4 Head & Shoulders wait for points 1.107 NowTrade closed: target reached
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