EUR/USD: euro is preparing an attack

EUR/USD: euro is preparing an attack

2019-11-11 • Updated


BUY 1.1875

SL 1.1820

TP1 1.2000 TP2 1.205

On the daily chart, EUR/USD bulls are preparing to test resistance at 1.1875-1.1885 and trigger the inverted “Shark” pattern. In case of success, risks of reaching 88.6% will increase. Failure will lead to consolidation in the 1.1710-1.1885 range.


On H1, EUR/USD reached the targets of the “Widening wedge”: after a pullback from 38.2% of the wave 4-5 and return to 23.6% there was a possibility to form long positions. To increase them one may use resistance at 1.1875 and trigger AB=CD pattern.  


What to Trade on July 11-15?
What to Trade on July 11-15?

The US dollar gained more than 2.5% against other currencies ahead of the NFP statement on Friday. As a result, EURUSD plunged to the 20-year low at 1.0100.

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