5 Jan 2016

EUR/USD STARTS THE NEW YEAR WITH A BREAK

EUR/USD H4

The rate has just broken the neckline of the head and shoulders pattern on H4 charts. This opens up a way towards the 2015 lows and 100% pattern breakout target at 1.0550.

A move back above the neckline at 1.0800 would invalidate my immediate bearish bias, however only a daily close above 1.1100 would turn my current bearish outlook to neutral.




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