EUR/USD: euro is after a crab

EUR/USD: euro is after a crab

2019-11-11 • Updated

Recommendation:

SELL 1.1750

SL 1.1805

TP1 1.1640 TP2 1.1600 TP3 1.1550

On the daily chart, the inability of bulls to push the pair above resistance at 1.1821 points at their weakness. To continue decline towards 127.2% and 161.8% targets of a “Crab” bears need to lead the pair outside of the uptrend channel and conquer support at 1.1750.

EUR1.png  

On H1, a break of support at 1.1730-1.1750 will make EUR/USD go to 161.8% and 88.6% targets of the “Shark” and AB=CD.

EUR2.png

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