EUR/USD: bulls took a break

EUR/USD: bulls took a break

On the EUR/USD daily chart, there is a consolidation in the range of 1.0705-1.0785. A breakout of its upper border will increase the risks of continuation of the rally towards 1.086, and then, towards 1.104 (target 161,8% in the AB = CD pattern ). In contrast, a successful test of the support at 1.0705 can lead to the development of the correction towards 1.0635 and 1.06 levels.

On the EUR/USD hourly chart, the Dragon pattern was successfully implemented. At the present moment, there is a formation of the triangle. A successful test of its upper border and resistance at 1.0775 will open the way for the bulls to the north. "Bears" expect a drop of the quotes below the support at 1.072.

Recommendations:

BUY 1,0775 SL 1,072 TP1 1,086 TP2 1,104,

SELL 1,0705 SL 1,076 TP 1,06. 

eur

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On the daily chart, XAU/USD is consolidating in the 1185-1210 range. A break of its upper border will trigger a “Crab” with a 161.8% target.

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