Recommendations: SELL 0…
EUR/USD: euro painted a wedge
SELL 1.1870 SL 1.1925 TP 1.1755
SELL 1.1910 SL 1.1965 TP 1.1790
On the daily chart, EUR/USD keeps forming “Shark” pattern and “Head and Shoulders”. Further fate of the pair will depend on the test of the neckline. There’s an important resistance at 1.1860-1.1865.
On H1, EUR/USD is finishing “Widening wedge” pattern. A successful test of resistance at 1.1805 will trigger the “Dragon” pattern and increase the odds of growth towards 50%, 61.8% and 78,6% of the wave 4-5. The sellers will take it from there.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.