Recommendation: BUY 0…
EUR/USD: bulls took a break
On the EUR/USD daily chart, there was a rebound of quotes from the lower boundary of the medium-term rising channel with the subsequent breakout of the upper boundary of the short-term downward channel. Bulls managed to settle above the important level of 1.0695. As a result, an internal bar was formed. A breakout of its upper border near 1.0738 will create prerequisites for the continuation of the rally. In contrast, a successful test of the support at 1.0695 will allow bears to regain their control over the pair.
On the EUR/USD hourly chart, the exit of quotes from the triangle followed by the activation of the inverted Shark pattern increased the risks of implementation of 88.6% target (1.087). But first, the bulls need to break the resistance at 1.0738.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…