EUR/USD: euro approached the wedge

EUR/USD: euro approached the wedge

Recommendation:

BUY 1.1580

SL 1.1525

TP 1.1715, TP2 1.1780 

On the daily chart, EUR/USD has come close to the highest level since August 2015 and the interim 127. 2% target of the inverted “Crab” pattern. If the pair returns to 1.1714, it will form the “Widening wedge”. Traders should wait until the wave 4-5 finishes and use the following pullbacks towards 23.6%, 38.2% and 50% for opening long positions.

EUR1.png

On H1, bulls are in full control of the pair. Return towards 1.1480 will allow forming a long position. In future use this same tactic.

EUR2.png

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