EUR/USD: bears control the euro

EUR/USD: bears control the euro


SELL 1.1445 SL 1.15 TP1 1.1345 TP2 1.1245 TP3 1.1180

SELL 1.1300 SL 1.1355 TP1 1.1245 TP2 1.1180

On the daily chart, bears are in control. They are still hoping to push the pair to 200% target of AB=CD. To continue the decline, bears need to pull EUR/USD below August low. The key resistance levels are near 1.1445 and 1.1510.

eurusd daily.png 

On H1, bulls are trying to seize the initiative and trigger the “Shark” pattern with the target at 88.6%. It’s located at 1.1595. The possibility of this scenario isn’t high.



How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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