Two patterns can now be seen on the EUR\USD, both suggesting bearish trend.
First on is the Ascending Wedge which is a reversal pattern - price has already broken its support line. Second pattern is the Head & Shoulders, which is a bit dis-proportioned in the EUR\USD. It is the classic and strongest reversal patterns.
Trading:
Enter short after breakout of the support level at 1.4620, or at the pullback to this level. Target is 220 pips from pullback location.
Analysis and Chart Pattern Trading:
http://www.chartsecret.com/content/eurusd-wedge-head-shoulders
First on is the Ascending Wedge which is a reversal pattern - price has already broken its support line. Second pattern is the Head & Shoulders, which is a bit dis-proportioned in the EUR\USD. It is the classic and strongest reversal patterns.
Trading:
Enter short after breakout of the support level at 1.4620, or at the pullback to this level. Target is 220 pips from pullback location.
Analysis and Chart Pattern Trading:
http://www.chartsecret.com/content/eurusd-wedge-head-shoulders