Levels to trade EUR/USD
EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/GBP: bears – bulls 5:0
Recommendations:
SELL 0.8785 SL 0.884 TP1 0.8695 TP2 0.8525 TP3 0.845
SELL 0.881 SL 0.8865 TP1 0.8695 TP2 0.8525 TP3 0.845
On the daily chart of EUR/GBP, there is a continuation of a medium-term consolidation in the range of 0.8695-0.9015 within the “Spike and ledge” pattern. The first break of its bottom line was unsuccessful, however, bears still hope and are ready to repeat the break after a small pullback.
On H1, there is a transformation of the AB=CD pattern to 5-0. Usually, pullbacks in the direction to 38.2%, 50%, and 61.8% are used for a formation of short positions.
Ivan Karamazov
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EUR/USD looks ready for more downside
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
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Latest news
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Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Fed Chair Powell Testifies
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