Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
EUR/USD: let’s sell the pair
2019-11-11 • Updated
TP1 1.133 TP2 1.118 TP3 1.075
On the daily chart of EUR/USD, chances that the pair will reach targets of the “Head and Shoulders” pattern and the “Shark” pattern (88.6% target) are declining. A break of the support at 1.143 will increase risks of the fall to targets of the AB=CD pattern. Its target of 200% is near 1.075.
On H1, if the pair breaks the support at 1.145-1.147 (78.6-88.6% of the CD wave), it will signal the last stage of the transformation of the “Shark” pattern to 5-0 pattern. Moreover, it will let the pair go to 200% target of the AB=CD pattern.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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