Update: Euro changes the track

The EURUSD pair declined strongly to break 1.1050 level and settles below it now, which stops the positive scenario that was suggested in our recent reports and push the price to turn into the downside, as we notice that the price is completing a bearish pattern, which is a head and shoulders’ pattern, and today’s candlestick below 1.1050 level will confirm activating the negative effect of this pattern.

Therefore, our short term positive overview will stop now to wait next week’s opening to confirm the next destination.