Sunday, 18 October 2015

EUR/USD decline from 10 year Head & Shoulders top resuming? 0.80ish the target

Monthly chart shows EUR/USD declining from a 10 year Head and Shoulders top. Measured target for the decline is just above 0.80. The market has consolidated in recent months.

Weekly chart zooms in on the decline and shows the recent consolidation to be a bearish flag.

Daily chart. Market is lower from multiple trend line resistances. Is the big picture decline resuming? Looks possible.