EUR/USD currency pair shows a Head & Shoulders reversal pattern which becomes confirmed by closing below the neckline at the 1.3070 level with the full target at level 1.2925.
We didn't have obvious closure below 1.3070 neither on D1 nor 4H charts. However, selling at 1.3155 is considered good for intraday traders to catch the beginning of the movement.
After respecting the lower limit of the blue channel, EUR/USD moved to the upside to test the upper limit of the channels around 1.3155.
Price level 1.3155 is the upper limit of the Yellow & Blue channels and previous broken support that turned into resistance.
Based on the previous analysis
Sell the EUR/USD pair near price level 1.3155 with SL placed above 1.3215
TP should be placed at 1.3105, 1.3060 then 1.3000.
Note:
Violet channel represents the price movement of yesterday.
Blue channel represents the price movement of previous two days.
Yellow channel represents the price movement of previous three days.
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