possible long and short scenario

After the formation of the Head and shoulder price has drop nicely and appears to have gained a short term support. However prices are on the move to a confluence zone where we have a falling trendline intersecting a horizontal resistance level at around 0.85 and 0.854.

We will be waiting for a possible 2 base case scenarios and act accordingly based on the information of price action that will be generated at this confluence zone. A daily close above the confluence level will probably trigger a move up.

Alternatively, a bearish price action around the confluence zone will put the bears in charge.

Happy trading