UPDATE - EUR/USD Head-and-Shoulders Could See Bearish Reversal (Chart)

We wrote yesterday that Euro price action was forming a “head-and-shoulders” reversal pattern against the U.S. Dollar and that we could see this pair hit Target 1 and possibly Target 2. At the time of the original posting, the second shoulder had not yet fully developed. It appears now as though the final limb in this reversal pattern is clearly on a path to formation.