Complex head and shoulders pattern on the EUR/USD

A few weeks back we identified a head and shoulders pattern on the EUR/USD over the daily chart with the neckline around the 1.1800 level, which was broken to take the pair to the 1.1700 level. We could say that such head and shoulders pattern was confirmed, but the drop was not too deep. On the last couple of weeks we saw that the EUR/USD pulled back to the 1.1900 level where it is trying to come back down. The pullback to the 1.1900 level is important, because the pair already bounced to the downside from that level on the 2^nd of august. Therefore, this bearish bounce from the 1.1900 level could be forming the right shoulder of a bigger pattern that includes the previous head and shoulders, that is why it is called a complex head and shoulder pattern. The pattern has two shoulders on the left and two shoulders on the right, the head is still the peak at the 1.2100 level. The neckline for the new pattern is the red trendline just below the 1.1700 level. If the EUR/USD breaks below the neckline, the pair may drop to the 1.1500 level, where we can find the 200 day EMA.