31 May 2013 7:00 GMT

Eurodolar has at least broken 1.3000 suport and is now a little bit further from Head and Shoulders pattern (red line on chart is neckline). In few next days it should be uptrend to 1.3240 resistance. If this level is brokern H&S pattern will be negate.

Traders should trade with bullish momentum and look for price action buying signals near 1.3000 if EUR/USD re-tests it. This can be very good risk:reward ratio trade.

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Comparic.com Editor-in-Chief. Trading since 2004, professionally connected with Forex market since 2006. Fan of technical approach to the markets – currently focuses on Ichimoku Kinko Hyo and Price Action strategies. He focuses on favorable risk-reward ratio in his own transactions. Speaker at many conferences on investment in capital markets, as a lecturer he cooperates with the largest brokerages in Poland and in the world. Vice President of the FxCuffs Foundation – Education and Development of Financial Markets.