Day: August 26, 2018

EUR/USD Can Bounce into Uptrend on Inverse Head-and-Shoulders

The euro has formed an easily detectable inverted head-and-shoulders pattern after its August 9–10 rapid drop against the US dollar. The H4 chart of EUR/USD shows the extra large head compared to rather small shoulders, which might hint at the pattern’s overall weakness. However, it should still be a good trend-reversing setup. Even though it contradicts my earlier bearish trade on EUR/USD, I still plan to execute this trade […]