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FOREX TECHNICAL & NEWS ANALYSIS:EUR/USD CREATED HEAD & SHOULDER FORMATION

Technical Analysis supports to go short on EUR/USD. USD signals to go up after heavy decline today. EUR/USD created head and shoulder formation on the candlesticks chart, and the every shoulder has stars on the edge. Popular MACD, Moving average of Oscillators and RSI clearly signalling that the pair  may go down.
Source:metatrader4.com
To me head & shoulder formation today on 4hr chart is unexpected because the USD economic indicators yesterday clearly supported USD to be bullish, but the Ukrainian crisis created hard time for USD. The second shoulder created today is the result of poor USD economic data. Investors closely watching the Ukrainian crisis situation.
Published @ 6:23 PM,Friday, March 14, 2014 (GMT)

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