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EURUSD Inverse Head & Shoulders Pattern in Broadening Wedge

EURUSD Inverse Head & Shoulders Pattern in Broadening Wedge

Description of the pattern: EURUSD stuck in a narrow trading range. On the smaller chart time frames, we see that the pair is printing Inverse Head And Shoulders pattern. Breakout of the neckline 1.13750 would carry the price 1.13950. Here we have the broadening wedge pattern. If it breaks above the wedge 1.14200 will be the target of the pair. Long Trade Setup is:

Trade: Long

Time Frame: M30

Trade Period: Intraday

Estimated completion time: 2-16  m30 Candle Sticks

The trend in the Timeframe: Neutral

The trend in the Daily Chart: Bearish

Trade Based On SHS Pattern

The accuracy of the pattern: 92 %

Recommended Lot Size: 0.10 at 10K

Trade: Long

The Area Of The Entry: 1.13750 Breakout

Stop Loss: 1.13950

Target 1: 1.14200

Target 2: 1.14500 ( Ultimate target of the formation

Target 3:

Extended Targets:

Note:

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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