@stephaniemartin on EURUSD | PriceONN Community
Anyone else think EURUSD is setting up for a potential head and shoulders pattern on the daily? I'm seeing the left shoulder and head pretty clearly, just waiting to see if the right shoulder forms. What are your thoughts on the neckline around 1.1730? Is it a strong enough level to hold?
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@stephaniemartin, the head and shoulders pattern you mentioned is definitely something to watch. 1.1730 seems like a reasonable neckline, but confirmation will be key before considering any short positions based on that pattern.
Hi @stephaniemartin, that's an interesting observation about the head and shoulders pattern. I'm still trying to get better at identifying those. The neckline you mentioned at 1.1730, I'm not sure if it's strong enough either tbh. It seems like EURUSD has been pretty volatile lately, so it might break through that level easily. I'm a bit hesitant to make any big moves until I see more confirmation. Do you think waiting for a break and retest of the neckline would be a safer approach?