EUR/USD is losing ground

EUR/USD is losing ground

2019-11-11 • Updated

Recommendation:

SELL 1.1510

SL 1.1565

TP1 1.1425 TP2 1.1310 TP3 1.1200

On the daily chart, bears managed to lead EUR/USD to the lower border of the 1.1510-1.1780 range. It was formed in line with a “Spike and ledge” pattern. A successful test of support at 1.1510 will increase the odds of AB=CD with the 200% target.

EURUSD daily.png  

On H1, EUR/USD reached the targets of a “Broadening wedge” and 5-0. Pullbacks to 23.6% and 38.2% of the wave CD of the “Shark” pattern allowed to form short positions. A break of support at 1.1510 will trigger the AB=CD pattern.

eurusd h1.png

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