I have been out of the market for some time. I took a long position in the EU after the upper trend line proved to be strong support with two four hour candles failing to close below it (see H4 chart). I also noticed a Head and Shoulders reversal pattern depicted in H4 chart. I will take some profit if and when price reaches the neckline. If price violates and retests the neckline as support I will move my stop up about 30 pips below the neckline. Alternatively, I will be looking to go short if price breaks and retests 1.3747 level. Stay tuned to twitter for live trade updates.
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