EURUSD: Inverse Head and Shoulders buy signal.

2 Ara

EURUSD is bearish on its 4H technical outlook (RSI = 38.974, MACD = 0.000, ADX = 37.510) as it continues to trade near the bottom of the long term Channel Down. At the same time its low made contact with the bottom of the Bearish Megaphone. Technically that formed the Head of an Inverse Head and Shoulders. The standard target for this pattern is the 2.0 Fibonacci extension. That is our target (TP = 1.08630).

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##