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The 240-minute EUR/USD is in a trading range and therefore will probably fall below the major higher low before rallying much higher.
Regardless of whether it does, the rally will probably form a head and shoulders top.
The 240-minute EUR/USD Forex chart is finding support above its major higher low of last week.. Yet, because it is in a trading range, it will probably fall below that support before rallying. whether or not it does, the next rally probably stall below last week's high. The bears will therefore attempt to create a big head and shoulder top.
The EUR/USD Forex market was in a narrow range overnight. it is therefore deciding whether to fall below its major higher low from last week. while the 240-minute chart has a small head and shoulder bottom over the past 3 days, it is more likely a bear flag. therefore, it will probably lead to break below last week's low.
