EUR/USD: bulls showed weakness
Read the article on FBS website
Recommendation:
SELL 1.1750 SL 1.1805 TP 1.1615
BUY 1.1860 SL 1.1805 TP 1.1950
On the daily chart, EUR/USD keeps forming 5-0. Pullbacks to 50% and 38.2% of the wave CD are usually used for selling. The inability of bulls to lead the pair outside of the downtrend channel points at their weakness.
On H1, a break below diagonal support at 1.1750 will open the way down to 127.2% of the ideal butterfly pattern. On the other hand, successful test of the local high at 1.1860 will mean the continuation of the “widening wedge”.
