EURUSD

Monthly Time Frame:

Confluences

• Price Action (P.A) currently printing lower lows (L.L) and Lower Highs (L.H), therefore Price Action (P.A) is currently in a downtrend.
  
  3rd bounce of trend-line.
  
  Inside bar formation highlighted by the yellow rectangle .
  
  Bearish Shooting star candle.
  
  Price Action (P.A) currently printing a bearish marubozu candle.
  
  200 EMA currently acting as dynamic resistance.
  
  

Conclusion


*Will Price Action (P.A) reach the weekly support of 1.15000 as the next downside target?

OR


*Price Action (P.A) looking a head and shoulders pattern is currently forming?