EUR/USD: bulls are retreating

EUR/USD: bulls are retreating


SELL 1.2315 SL 1.237 TP1 1.2215 TP2 1.2095 TP3 1.205

SELL 1.2215 SL 1.227 TP1 1.2115 TP2 1.2095 TP3 1.205

On the daily chart of EUR/USD, bears made the first attempt to pull the pair below support at 1.2245. As a result, it formed the junior pattern “Widening wedge”. To continue the decline the pair has to fall below April minimum.


On H1, there’s a “Widening wedge”. Pullbacks to 23.8%, 38.2% and 50% as usually are used for selling with targets at 78.6% of the Gartley pattern. At the same time, advance above 1.2417 will increase the odds of uptrend’s resumption.




USD/JPY took a blow

USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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