EURUSD This will be interesting to follow in the forthcoming weeks

Lud Trader

Active Trader
Nov 3, 2017
You can start by reading our [URL deleted] previous analysis.

I suggested a potential Head & Shoulders Pattern, that is now activated. Prices are challenging the resistance level at 1.17, that is also the level of the neckline.

Since several days, prices are building a consolidation phase. Prices bounced off the level at 1.1586, the key level of Fibonacci reached by the sub-wave 3 (orange counting). The potential of this move is relatively limited, and the bearish move is expected to resume after prices reach the level [1.1670-1.1720].

The main idea is to find an entry point in the 4-hour or the 1-hour timeframe thanks to the IVT COMBO method when prices will be in the cluster zone (red rectangle). Target Profits are the following : 1.16 (the last swing low), 1.1456 and then 1.1341 (theorical price objective of the Head & Shoulders Pattern).

Updated graph will be posted in the[URL deleted] chat area ! This will be interesting to follow in the forthcoming days.

Please, click here to have access to the graphic :
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