EUR/USD: a Shark will eat the dollar

EUR/USD: a Shark will eat the dollar

Recommendation:

BUY 1.1990 SL 1.1935 TP1 1.2090 TP2 1.2190 TP3 1.2290

On the daily chart, EUR/USD reached the targets of the senior and junior “Broadening wedge” patterns. At the same time, the pair triggered the “Shark” and AB=CD patterns with targets at 88.6% and 200%. They form the convergence area at 1.18-1.1825. The necessary condition for the continuation of the fall is the decline below 1.2080-1.2095 и 1.1965-1.1990.

EUR1.png 

On H1, if EUR/USD reaches 78.6% and 88.6% of the “Shark”, this will increase the risks of a pullback to 23.6%, 38.2% and 50% of the wave CD as the “Shark” is transforming into 5-0.  

EUR2.png

eur

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