EUR/USD is consolidating

EUR/USD is consolidating

Recommendation:

SELL 1.2215 SL 1.227 TP1 1.2115 TP2 1.2095 TP3 1.1965

BUY 1.247 SL 1.2415 TP1 1.257 TP2 1.267 TP3 1.277

On the daily of EUR/USD, there are the senior and junior “Broadening wedge” patterns. To resume the uptrend, bulls should push the pair above resistance at 1.2457-1.2470. On the other hand, decline below support at 1.2215 will open the way for the decline.

EUR1.png 

On H1, EUR/USD keeps consolidating in the 1.2215-1.2445 range within the “Spike and reversal with acceleration” pattern. A break of support at 1.2315 will trigger the “Shark” pattern.   

EUR2.png

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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.

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