EURUSD Daily analysis 1/19/20

EURUSD Short Idea

The monthly, weekly and daily time frames are all bearish while the 4hour is bullish.

Price action found resistance around 1.11500 and is forming what looks to be a head and shoulder pattern.

For this pattern to be confirmed we need to see a break of 1.10800 before we can target lower toward 1.09850 and potentially toward 1.07000 in the long term