EUR/USD got lost in corridors

EUR/USD got lost in corridors


SELL 1.2215 SL 1.227 TP1 1.2115 TP2 1.2095 TP3 1.1995

BUY 1.2515 SL 1.246 TP1 1.2615 TP2 1.2715 TP3 1.2815

On the daily chart, EUR/USD keeps consolidating in the 1.2215-1.2515 range within spike and ledge pattern. A break of resistance at 1.2515 will lead to the uptrend’s resumption. On the other hand, decline below support at 1.2215 will increase the risks of a correction.


On H1, EUR/USD keeps forming a “Widening wedge” pattern. The decline to the point 5 will open the way down to 78.6% of the Gartley pattern.




USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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