EUR/USD is preparing to a break

EUR/USD is preparing to a break

2019-11-11 • Updated

Recommendation:

SELL 1.2245 SL 1.23 TP1 1.2145 TP2 1.208 TP3 1.1965

BUY 1.2415 SL 1.236 TP1 1.2515 TP2 1.2615 TP3 1.2715

On the daily chart, EUR/USD is consolidating in the 1.2245-1.2415 range. A break below the lower border of the range will allow bears to pull the pair to 127.2% of the violet AB=CD. On the other hand, advance above resistance at 1.2415 will increase the odds of advance to 127.2% target of the green AB=CD.

EUR1.png  

On H1, EUR/USD keeps forming the junior “Widening wedge”.

EUR2.png

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