EU is in a longer term down trend. There is a Head and Shoulders pattern developing
Chart below.
Price has made a move down and retraced to the 50% Fibonacci level.
Chart below:
There is support below in the form of the neck line of the Head and Shoulders pattern.
However price has broken down this morning and I am looking for a short entry as detailed below.
Levels and Chart below:
1st Entry: 1.2910
2nd Entry: 1.2915
Averaged Entry: 1.2912
Stop Loss: 1.2935
1st Target: 1.2820
2nd Target: 1.2740
I will update again should the trade be triggered.
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