EUR/USD is hunting bats

EUR/USD is hunting bats

2019-11-11 • Updated

Recommendations:

BUY 1.1615

SL 1.1560

TP1 1.1715 TP2 1.1790 TP3 1.1910

On the daily chart, EUR/USD keeps consolidating in the 1.1515-1.1815 range. Bulls keep hoping to form a “Dragon” and a “Crab”. To do it, they will need to lead the pair out of the downtrend channel, push it above resistance at на 1.1755 and then renew July high.

EURUSD D1.png  

On H1, if EUR/USD reaches 88.6% target of a “Bat”, it will allow locating support.  A pullback from it will create the ground for long positions.

EURUSD H!.png

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