EURCAD: Head and shoulders pattern indicating further move upEURCAD: Head and shoulders pattern indicating further move up
Price completed and confirmed an Inverse Head & Shoulders pattern.
This pattern usually indicates a change in trend direction.
The price broke out of the neckline of the pattern thus indicating the possibility for further growth.
However, in order for this pattern to be strong, the price should develop and hold above its neckline, otherwise, it may result in a failed breakout.
I am expecting the price to reach 1.5000 in the coming days.
You may find more details in the chart!
Thank you and Good Luck!
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