20180812 – EUR/USD Head and Shoulders Formation – risk of further downside

20180812 – EUR/USD Head and Shoulders Formation – risk of further downside

On Friday the EURUSD has broken down through the neckline of a Head+Shoulders Formation.

This shows the Euro-Weakness in the market. From the chart technical viewpoint this also opens up the possibility of a bigger move into the 1.10 to 1.05 area.

A move above 1.15 would make the scenario obsolete.

Lets see what volatility politics and central banks will add to this scenario.

 

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