EURUSD Weekly Update


The pair is still consolidation for one last time befere it resumes the down trend to its target of 1,13

The price is forming a downward triangle (typical of 4th wave Fibonacci construction) and it seems like a continuation of a Head and Shoulders pattern as long as the price is below 1,1660 for the downtrend to resume next week.

Trade CodeEURUSD-0001
Stop Loss1.1900
Take Profit1.1385
CommentsAllow several weeks for the trade to develop