Price increased and erased the morning drops. Is trading in the green and approaches the median line (ml) of the descending pitchfork. A retest followed by a minor drop will signal a breakdown below the 1.1711 horizontal support. Price increased only because the USDX has decreased today, but it could still develop a minor Head and Shoulders pattern as long as will stay within the descending pitchfork’s body. Only a breakout from the descending pitchfork’s body will signal a further increase.
