*Short term trade signal
Reversal candles in H1 chart, suggesting that EUR/USD may retrace as in previous days when we have seen such strong reversal signs.
It is being traded in overbought level and has consolidated these last days with few new highs which have been sold immediately.
In the 5 min chart a head- and- shoulders has emerged, which suggests that our 2nd target will be hit in case 1.1418 level is breached (neckline)
This setup is expected to play out in the coming hours.
Later this day we will post an updated wave count for EUR/USD associated with a swing trade setup.