According to the linear regression channels the chart presents the following:
Yesterday, the EUR/USD currency pair showed massive bearish price action after visiting the resistance level 1.3283 which corresponds to the upper limit of all depicted channels roughly.
The EUR/USD pair has confirmed the marked Head & Shoulders reversal pattern with closure below the neck-line at 1.3180. Howeverб the pair found resistance at 1.3135 corresponding to the lower limit of the violet channel also breaking the lower limit of the bullish yellow channel depicted on the chart.
Yesterday, we mentioned the importance of intraday resistance area 1.3240-1.3260 as a good SELL entry which is running in profit now.
The market indicates an intraday SELL entry at 1.3185 - 1.3200 which corresponds to the backside of the broken yellow channel and the neckline of the H&S pattern.
Stop Loss is to be placed above 1.3255 and Profits should be taken at 1.3135 and 1.3105.
