EUR/USD: euro resists correction

EUR/USD: euro resists correction

Recommendation

BUY 1.1175

SL 1.112

TP1 1.1235 TP2 1.1285

On the daily chart, EUR/USD is undergoing short-term consolidation in the 1.1110-1.1180 area. Bears try to return inside the previous rising channel. If they fail, risks of the uptrend’s resumption will increase.

eur1.png

On H1, EUR/USD formed “Wolfe waves” pattern. The break of resistance at 1.1175 will trigger 1-2-3 and “Crab” patterns. The 161.8% target of the latter is at 1.1275. Together with the historic resistance, it allows distinguishing convergence area of 1.1275-1.1285.

eur2.png

eur

Similar

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.

Popular

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.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera