EUR/USD Chart Pattern Alert

Hello All,

This is a EUR/USD chart pattern alert that I would like to share with everyone.

I have been day trading the EUR/USD most of this week and doing very well, you can see my performance here.  Yesterday in Asian session we were already short going into the Standard and Poors Downgrade before the nice flush. The EUR/USD reached a low of 1.2825 last night and popped when the pair had some nice risk-on buying at those levels all the way up near 1.2950. We discussed this support level several times in the room this week, and this was sure a key level that helped us manage our trades. I exited this trade with a profit  last night, and the focus is once again back on the EUR/USD. I wanted to post this chart since it appears we may be forming a head and shoulders on the 4 hour EUR/USD chart. Remember this pair can also pop higher so it is important to take small positions, especially when going against the overall trend.

Ok.......going to get to bed and I am looking forward to our U.S. session tomorrow. I hope this quick EUR/USD chart pattern alert helps you. I sent a short signal out earlier on the EUR/USD, our trade size is small.

eur/usd chart

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