EUR/USD: bears wait for their chance

EUR/USD: bears wait for their chance

Recommendation:

SELL 1.2445 SL 1.25 TP 1.2345 TP2 1.22

SELL 1.2335 SL 1.239 TP1 1.2235 TP2 1.22

On the daily chart of EUR/USD, there’s a sustainable uptrend. Bulls are getting ready to test a 3-year high to reach 200% target of AB=CD. Failure or inability to fix above 1.2535 will be the first signal of buyers’ weakness.

EUR1.png 

On H1, EUR/USD bulls have to fear the formation of a “Widening wedge”. For that the euro needs to decline below $1.2335. Aggressive sell position is possible at the low of the bar #2.  

eur2.png

eur

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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