EUR/USD: euro is choosing a way

EUR/USD: euro is choosing a way


BUY 1.1720 SL 1.1665 TP1 1.1780 TP2 1.1910 TP3 1.2070

SELL 1.1665 SL 1.1720 TP1 1.1565 TP2 1.1535

On the daily chart of EUR/USD, bulls managed to lead the pair out of the downtrend channel. They want to trigger a “Crab” pattern with the target at 161.8% and a “Dragon”.


On H1 of EUR/USD, a successful test of resistance at 1.1720 will allow bulls to continue the rally towards 78.6% target of the Gartley pattern. On the other hand, a return to support levels at 1.1665 and 1.1650 will increase the risks of “Wolfe waves” and “Shark” reversal patterns.



USD/CAD: sellers lost the initiative

On the daily chart, bears tried to form “Three Indians”, 1-2-3 and “Bat” with 88.6% target but failed to bring USD/CAD to an important support at 1.2925.

AUD/USD fell from the ledge

Bears managed to pull AUD/USD below the lower consolidation range of 0.732-0.7470 (a ledge) within the “Spike and ledge” pattern.


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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