8088729 11/8/2017 5:04 PM, EUR/USD ST: the downside prevails.


Pivot: 1.1880


Our preference:

short positions below 1.1880 with targets at 1.1300 & 1.1100 in extension.


Alternative scenario:

above 1.1880 look for further upside with 1.2090 & 1.2200 as targets.


Comment:

the RSI is capped by a declining trend line. The pair has validated a Head & Shoulders pattern, calling for further decline.


Supports and resistances:


1.2200 **

1.2090 **

1.1880 ***


1.1595

Last

1.1300 **

1.1100 ***

1.0870 *