EURUSD Analysis

• We rejected the weekly resistance of 1.19250 as the recent 2 monthly candles formed a bearish tweezer, indicating a possible move to the downside. We could see a retest of the previously broken consolidation area; around the now monthly support - 1.14500
  
• We broke the daily upward trend line and we could find support at 1.16875 before making a new higher low.
  
• Possible head and shoulders formation with a possible target at our monthly support - 1.14500
  
• There is a possible confluence of the 161.8% fib extension level with the monthly support possible target should the Lower high be formed and the D extension follows.