EUR/USD is driving wedges

EUR/USD is driving wedges

Recommendation:

SELL 1.2310 SL 1.2365 TP1 1.2210 TP2 1.2155 TP3 1.2080

SELL 1.2355 SL 1.2410 TP1 1.2255 TP2 1.2155 TP3 1.2080

On the daily chart, the return of EUR/USD inside the uptrend channel will increase the risks of the pair going to 161.8% and 224% of AB=CD patterns. On the other hand, if the euro falls to February lows, it will then go to 88.6% target of the “Shark”.

EUR1.png 

On H1 of EUR/USD, there is a “Widening wedge” pattern. Pullbacks from resistance at 38.2% and 50% of the wave 4-5 may be used for opening long positions. A break of 1.2470 and 1.2510, on the other hand, will open the way to the north.

EUR2.png

eur

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