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EURUSD is sitting on a major Head&Shoulder pattern that begin forming from September last year when we develop the left shoulder (see fig.1) and continue to develop throughout this year. Currently everything is set in place for a major breakout to the downside and a break of the H&S's neckline which is the final confirmation that we have a genuine pattern. In figure 1 we can also see that the 1.37 swing high price structure took a shape of an minor H&S pattern which in itself resemble the bigger…
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Fiber: Head&Shoulder within an Head&Shoulder; Ultimate Reversal Pattern
On Feb 1st we have established a swing point and developed a minor H&S top. (Fig1. see blue circle). Using fractal analysis we can see the H&S pattern is expending on a much bigger scale on the daily chart.(Fig1. see red circle) The market is currently developing the right shoulder. We have an Head&Shoulder within an Head&Shoulder; an Ultimate Reversal Pattern. From here we should see a minor consolidation top right shoulder develop, which should spike up into 1.3200 50% retracement from the 1.3…