Recommendation: BUY 1…
EUR/USD: bulls entered a dangerous area
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.
On H1, the inability of bulls to keep pushing up increases the risks of a reversal “Widening Wedge” pattern.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
We’ve got a pullback from the lower “Window”, so there’s a bullish “Doji”, which has been confirmed .