EUR/USD: bulls loosened their grip

EUR/USD: bulls loosened their grip


SELL 1.2225 SL 1.228 TP1 1.216 TP2 1.2045

BUY 1.2295 SL 1.224 TP1 1.237 TP2 1.2475

On the daily chart, EUR/USD keeps forming “Spike and reversal with acceleration”. Bears count on the continuation of the decline toward an interim target at 78.6% of the “Bat” pattern. Never the less, the pair is for now above support at 1.2015-1.2045, and bulls are in control of the situation.  


On H1, after having formed a widening wedge EUR/USD went to the 3-week and formed a short-term consolidation range of 1.2225-1.2295.




Levels to trade EUR/USD

EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.

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