EURUSD Return To The Bears?

EUR/USD has made a hard bounce out of the 50 day simple moving average, closing yesterday bearish (-0.41%) and knocking out the previous day’s low. With the Monkey-Pox virus spreading in Europe, and a recession looming in the region I’m still looking for EURUSD to move towards parity.

On the 1H chart it looks as if a head-and shoulders pattern is forming.