Head & shoulders: Euro breaks the October low

Euro ticks below the October low

The low is 1.1665, which is just shy of the August low of 1.1661 but the long-touted head-and-shoulders pattern is now in place.

Of course, you'd like to see a close below 1.1660 to gain any kind of confidence.

But it's not looking good for the euro.

Update: The August low has given way now with the pair at 1.1658