In the article from the beginning of September I analysed the inverse H&S on this pair and the movement that followed after its implementation exceeded all expectations. From the charts I expected 400 pips but came out 950 pips.
Now at the top of this rally is formed next H&S formation and having in mind the popular in the forex saying that to grow something must fall first and vice versa – the probability of implementation a bearish H&S after such a rally is very big. Currently the price is balancing on the edge of the formation on the so-called neck line at levels 150.00-150.10. If there is a breakthrough, it is worth considering Sell, preferably after the level is re-tested from below.
