EUR/USD May Be Preparing To Recover The Gap

The 192 pips gap that formed on Monday after the French presidential election has not been recovered yet.

The pair was range-bound practically during the entire week and moved below the resistance at 1.0950, which can be seen on the weekly and monthly time frames. The range was quite wide, it was between 1.08206 and 1.0949 and in the end on the H4 time frame formed a figure that resembles head and shoulders.

Considering this technical analysis picture I think that it is very probable for the pair to reverse its trend and begin falling, which will lead to the recovery of the above-mentioned gap. I think that the move to the upside appears exhausted at this stage and I see no serious perspective for its renewal in the next few days.