Euro forms positive pattern – Technical Analysis – 12-11-2015

The EURUSD pair rose recently to hint forming reversal positive pattern, which is the inverted head and shoulders’ pattern, attempting to attack the neckline of this formation after ending forming the right shoulder, accompanied by positive signals coming from the relative strength indexes.

 

Therefore, we expect to witness bullish trading in the coming period on the intraday basis, especially after confirming this pattern by breaching its neckline and closing above it, to target 1.0870 resistance as a main target of the mentioned positive pattern.