Recommendation: BUY 0…
EUR/USD: euro is trading in consolidation range
On the EUR/USD daily chart, there is a consolidation in the range of 1.085-1.095. A break of its lower border can lead to the realization of the "Three Movements" pattern and correction towards 1.077. In contrast, a successful test of the upper border of the range can lead to the continuation of the rally towards the 1.091-1.102 convergence zone. There is an intersection of long-term downward and medium-term upward trading channels.
On the EUR/USD hourly chart, the bulls need to be cautious with trading breakouts. There is a 200% target of the AB = CD pattern near 1.1020.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…