EUR/USD: euro is breaking a trend

EUR/USD: euro is breaking a trend

Recommendations:

BUY 1.1715 SL 1.1660 TP1 1.1815 TP1 1.1865 TP3 1.191

BUY 1.1600 SL 1.1545 TP1 1.1700 TP2 1.1800 TP3 1.1865

On the daily chart of EUR/USD, a pullback from convergence area (261.8% and 88.6% targets of AB=CD and the “Bat”) increases the risks of a pullback to the short-term bearish trend. To reach their goals, bulls need to push the price above the upper border of the downtrend channel and resistance at 1.1755.

EUR1.png 

On H1, the inability of bulls to return EUR/USD inside the downtrend channel or break resistance at 1.1715, will increase the risks of getting to 161.8% target of the “Shark”.

EUR2.png 

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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