EUR/USD: bulls entered a dangerous area

EUR/USD: bulls entered a dangerous area

2019-11-11 • Updated

Recommendation:

SELL 1.1895

SL 1.1950

TP1 1.1820 TP2 1.1795 TP3 1.1735

On the daily chart, if EUR/USD renews November high, the odds of its getting to 161.8% target of AB=CD will increase. Never the less, if bulls fail to settle above resistance at 1.1965-1.1975, there may be a “Top/ Bottom 2B” strategy of Victor Sperandeo. Return of the pair to the candle’s low, at which it has a previous high, is a signal for selling.

EURUSD1.png  

On H1, the inability of bulls to keep pushing up increases the risks of a reversal “Widening Wedge” pattern.

EURUSD2.png

 

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