EURUSD 2016-01-29
EUR/USD
1.0915
Euro armed with reverse Head & Shoulder formation
as we see over the chart, market showing a reverse head & shoulder formation which if managed to control market will lead for another test to 1.0990 resistance zone while above that levels market will face 1.1060 and 1.1135 resistance levels.
market managed to advance toward 1.0967 while retreated below the downtrend levels as we see , while as long as market holding above 1.0870 the uptrend pressure will sustain
from another hand market still facing support line of 1.0775 which protecting this model, while below 1.0775 market may head to test 1.0710 and 1.0640 zone
Support | Resistence | |
Level 1 | 1.0870 | 1.0950 |
Level 2 | 1.0775 | 1.0990 |
Level 3 | 1.0710 | 1.1060 |