It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
EUR/USD: bulls are clutching at a straw
2019-11-11 • Updated
TP1 1.2095 TP2 1.1965
On the daily chart EUR/USD, bulls are trying to return the pair within the upward channel. If they succeed, the pair will be able to continue rising as well as 161.8% and 224% targets of AB=CD patterns will be implemented. Vice versa, when fail, bears will be able to count on the activation of the “Broadening wedge” and “Double top” patterns. In this scenario, the possibility of the continuing correction in the direction of 1.2095 and 1.1965 is high.
On H1 of EUR/USD, bears are going to break supports at 1.2235 and 1.2205.
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!