EUR/USD Bears are Still in Control

The EUR/USD has formed two bearish structures. Back-to-back SHS patterns which might give us entries based on the breakout and POC zone.

Small SHS pattern might provide a breakout entry if the pair goes below 1.1785. In that case we could see a move down to 1.1768, 1.1750 and 1.1720 which is slightly below the projected low at 1.1733. A bounce up might hit the POC zone 1.1850-70 and the market might start turning down from that point due to huge SHS pattern and the the top of the right shoulder. Higher TF Bollinger Band also add to the confluence.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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