Euro Drops Like a Rock

Major indices are still pushing higher. Nothing has changed here.

We have a small change on Gold though, where after some time, we finally see a commitment in the bullish camp. The price created the double bottom formation and is heading higher after the breakout of its resistance.

We do not have a lot of trading occasions today but those which are present are pretty strong. Interestingly, all of them have to do with the Euro.

The EURUSD slowly but surely finished the right shoulder of a Head and Shoulders pattern.

The EURGBP is still to dropping after a false bullish breakout from the wedge formation.

The EURNZD has also dropped showcasing the power of a false breakout pattern.

For a look at all of today’s economic events, check out our economic calendar.