Daily Chart
Formation – Possible H&S formation unless 1.1419 is breached
Resistance – 1.1385, 1.1419-1.1430, 1.1465
Support – 1.1327, 1.13, 1.1260
Formation – Possible H&S formation unless 1.1419 is breached
Resistance – 1.1385, 1.1419-1.1430, 1.1465
Support – 1.1327, 1.13, 1.1260
- Watch out for a possible move towards head and shoulder neckline (seen today at 1.1260; neckline may rise to 1.1284 in next few days).
- A convincing break above resistance at 1.1376 would shift risk in favor of a rise to 1.14-1.1419.
- However possibility of head and shoulder formation exists so long as bears are able to avoid a daily closing above 1.1419 levels.
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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.