EUR/USD: bears hit the breaks

EUR/USD: bears hit the breaks

Recommendation:

BUY 1.1840 SL 1.1785 TP1 1.1940 TP2 1.2055 TP3 1.2175

SELL 1.1775 SL 1.1830 TP1 1.1690 TP2 1.16650 TP3 1.1550

On the daily chart, EUR/USD reached an interim target at 78.6% of the “Bat”. The pair formed an inside bar. A break of its upper border will increase the odds of a break above the diagonal resistance and a trigger of the “Shark” pattern. On the other hand, successful test of the lower border of an inside bar will allow bears to continue moving south.

EUR1.png 

On H1, EUR/USD bulls managed to bring the pair out of the descending trend channel but to counterattack, they need to push the price above the resistance at 1.1840.

EUR2.png

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