September 29, 2020 6:29:20
Sellers on the EURUSD could be taking a breather this week as we head into the data-packed economic calendar.
The EURUSD on the 1 hour time frame is potentially forming an inverted head and shoulders formation. Buyers will be looking for an entry point around the right shoulder line at 1.1630 support. A break of the neckline could indicate a recovery towards the next major resistance at 1.1730.
A break below the shoulder line may indicate further weakness in the EURUSD. Expect heightened volatility as we progress through the week.
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