EUR/USD: euro is breaking a trend
Read the article on FBS website
Recommendations:
BUY 1.1715 SL 1.1660 TP1 1.1815 TP1 1.1865 TP3 1.191
BUY 1.1600 SL 1.1545 TP1 1.1700 TP2 1.1800 TP3 1.1865
On the daily chart of EUR/USD, a pullback from convergence area (261.8% and 88.6% targets of AB=CD and the “Bat”) increases the risks of a pullback to the short-term bearish trend. To reach their goals, bulls need to push the price above the upper border of the downtrend channel and resistance at 1.1755.
On H1, the inability of bulls to return EUR/USD inside the downtrend channel or break resistance at 1.1715, will increase the risks of getting to 161.8% target of the “Shark”.
