The EUR/USD and its big Head and Shoulders formation is not the only pattern that gave signs that the American dollar will gain in value. We can see an Inverted H&S formation n the USDCHF pair, which was recently promoting an upswing. On the EUR/USD, bears failed to break out of the formation and on USD/CHF, bulls failed to hold the breakout and confirm the buy signal.
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Sellers managed to come back below the neckline, and are keeping the price under 0.9570 which was an important support.
False breakouts usually lead to a strong counter movement. There are chances that this will happen on this pair.
The new week started without any surprises and the price is still locked under the neckline, denying the buy signal that was present just a few days ago.