Currency Analyst since 2010

EUR/USD: potential H&S (BoA)

Bank of America Merrill Lynch points out that there’s a ‘head and shoulders’ pattern developing 8-month on EUR/USD daily chart. The neckline is at $1.2660 and if euro breaks below this level, it will slide to $1.2280 and $1.2040 (July 12 low).

Chart. Daily EUR/USD

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