Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
EUR/USD: euro is on the edge
2019-11-11 • Updated
TP1 1.1525 TP2 1.14 TP3 1.1295
On the daily chart of EUR/USD, bears counterattacked and are ready to renew May low. In this case, the pair will trigger the junior AB=CD pattern with targets at 127.2%, 161.8% and 200% and the senior “Shark” pattern with a target of 88.6%.
On H1, EUR/USD is near the convergence area (88.6% target of a “Shark”). This increases the risks of a pullback towards 23.6%, 38.2% и 50% of the wave CD. Use the correction for selling.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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