EURUSD – Head & Shoulders

As stated a couple of weeks ago, EURUSD retested the confluence of resistance levels in the 1.1860-1.1870 area, however the downtrend remains intact and we continue to target the 200 day moving average neighorhood which sits at 1.1220. – This next move lower should help bring the pair slightly more in line with curve spreads, the correlation of which broke earlier in July this year.

Continue reading “EURUSD – Head & Shoulders”