EUR/USD: a possible rise for the euro
Read the article on FBS website
Recommendation:
BUY 1.1455
SL 1.14
TP1 1.1555 TP2 1.1645 TP2 1.168
On a daily chart of EUR/USD, the pair managed to break the support at 1.1430, which activated “Shark” and AB=CD patterns. The price is close to the convergence between 1.1180 (the 61.8% level on the long-term uptrend) and 1.1215 (the 200% target of the AB=CD pattern). This situation makes it possible for the pair to break the support at 1.13.
On H1, the price has almost reached the 88.6% target of the “Shark” pattern. This situation intensifies risks of the reversal. If the pair crosses the resistances at 1.1455 and 1.15, it will activate the “Wolfe Waves” pattern.
