EUR/USD is preparing to a break

EUR/USD is preparing to a break


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.


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



Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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