We started the week with a completed head and shoulders pattern in EUR/USD. This signals further downside in $EURUSD, but so far, it has found support around 1.1580 and has pulled back to test the neckline of the H&S pattern.EUR/USD 1H Chart(click to enlarge)The Pullback:- The 1H chart shows EUR/USD pulling back up from 1.1580 to almost 1.1660. - This is right under the neckline of the head and shoulders pattern, and we are already seeing some resistance here as the rally slowed down. - Also, the 1H RSI held mostly under 60, which shows maintenance of the prevailing bearish momentum.- There is a chance that price will now pivot from this 1.1650-1.1660 area back down towards the 1.1580 support, with risk of further downside.Next Resistance:- However, if price pushes above 1.1665 and the RSI above 60, we could be looking at a more significant bullish correction. This means, we can still treat EUR/USD as bearish in the medium-term, and only bullish in the short-term.- In this scenario, the next key resistance will be around 1.1725, which is a previous support pivot.- Furthermore, price would be testing the 200-hour Simple Moving Average if it gets back up around 1.1725.