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EUR/USD: possible head-and-shoulders forming

   
The EUR/USD pair may have formed a head-and-shoulders pattern on the 4-hour chart which adds a potentially bearish slant to the outlook.

A break below the 1.1133 lows would probably confirm a breakdown of the H&S and a move down to a target at the monthly pivot at 1.1035.

Alternatively the mini-up-trend is still technically intact and therefore expected to continue, with a break above the 1.1391 highs confirming a continuation higher to a target at the 1.1486 R1 monthly pivot.
EURUSD13

   
The EUR/USD pair may have formed a head-and-shoulders pattern on the 4-hour chart which adds a potentially bearish slant to the outlook.

A break below the 1.1133 lows would probably confirm a breakdown of the H&S and a move down to a target at the monthly pivot at 1.1035.

Alternatively the mini-up-trend is still technically intact and therefore expected to continue, with a break above the 1.1391 highs confirming a continuation higher to a target at the 1.1486 R1 monthly pivot.
EURUSD13



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