EUR/USD Turning Bearish – Watch the POC Retest Zone
The EUR/USD has made a spike towards upper 1.1560 levels and now a hug head and shoulders pattern is playing out.
The EUR/USD is showing a type 2 bearish pattern so we might see another rejection from POC zone or lower. 1.1455-65 or 1.1480-90 could reject the price on a retest. Targets are 1.1428, 1.1415 and 1.1398. The price is very bearish now but due to BREXIT vote later, be prepared for a possible higher than normal volatility. If heavy profit taking takes place, the EUR/USD might drop even further. Only above 1.1512 the pair is bullish.