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Euro / U.S. Dollar
Long

EURUSD Inverse Head and Shoulders (3:1 RR)

By jaleelrich
Updated
Let's see if we can't get a nice reversal pattern for a strong buy on EurUsd. Seeing that USD has had terrible economic growth the past few weeks, we should see Eur put up a strong fight here shortly. Remember, wait for confirmation and pullback!
Comment
For more aggressive traders, look for a buy entry near the right shoulder of the pattern around 1.078. You could exit at the neckline or hold and ride the wave. Happy Cinco De Mayo!
Trade active
Going to take a small lot size and try to catch the right shoulder formation with USD Bad News Release:

SL 1.071
TP 1.091
Chart PatternsEURUSDHead and ShouldersInverse Head and ShouldersTrend Analysis

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