Potential head and shoulders pattern with price projection for the EUR/USD

Forexmentor.com Forex Trading Price Action

Jason David did a projection from what he calculated to be the neckline of a potential head and shoulders pattern on the daily chart for the EUR/USD pair and, if he got it right, then the end product is 1.3676. That puts it within 10 pips of the all-time high of the euro; seems reasonable technically, at least, according to him.

Today’s price action would seem to indicate that Jason is on the right track with his prediction. The greenback is having signs of weakening a bit more in the next year, and the euro is acting headstrong, in his estimation. At www.forexmentor.com our members submit information like this on a regular basis.

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