Dear all,
As we have mentioned yesterday , the EUR/USD prices retreated to reach the expected target of the 1.25 level , then it continued its general downward trend towards the moving 200 at the 1.2676 level , so should the prices breach down this level , it will decrease further towards the next target of 1.2457 level which corresponds to the bottom line of the ascending channel as we see in on the 1 hour chart.
Should the prices breach down the 1.2457 level, this is a signal that it will continue forming the second shoulder of the Head and Shoulders form, and the next target would be towards the 1.2438 level.
We also notice that the prices are trading within a descending triangle and we expect it will move down towards the base of the triangle at the 1.2438 level , so if the prices breach down this level , this give us a signal of downward movement of the prices towards the 1.2350-1.2305 area.
However if the prices still trading above the moving average 200 at the 1.2476 level , this will confirm that it will rise again towards the 1.2508-1.2530 area then to the 1.26 level.
Nice trading
As we have mentioned yesterday , the EUR/USD prices retreated to reach the expected target of the 1.25 level , then it continued its general downward trend towards the moving 200 at the 1.2676 level , so should the prices breach down this level , it will decrease further towards the next target of 1.2457 level which corresponds to the bottom line of the ascending channel as we see in on the 1 hour chart.
Should the prices breach down the 1.2457 level, this is a signal that it will continue forming the second shoulder of the Head and Shoulders form, and the next target would be towards the 1.2438 level.
We also notice that the prices are trading within a descending triangle and we expect it will move down towards the base of the triangle at the 1.2438 level , so if the prices breach down this level , this give us a signal of downward movement of the prices towards the 1.2350-1.2305 area.
However if the prices still trading above the moving average 200 at the 1.2476 level , this will confirm that it will rise again towards the 1.2508-1.2530 area then to the 1.26 level.
Nice trading
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