EUR/USD: outlook is bullish

EUR/USD: outlook is bullish

Recommendation:

BUY 1.1480

SL 1.1425

TP1 1.1600 TP2 1.1800. 

On the daily chart, bulls managed to break above resistance at 1.1472-1.1480. This put the longer-term bearish trend to an end. Resistance became support, “Bat” pattern turned into “Crab” with interim target of 127.2% at 1.1800.

EUR.png

On H1, EUR/USD is trading within the bullish channel. Bulls are in control. Buy on any pullbacks to the downside.

EUR2.png

eur

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Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak goldean cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are on the weak Kijun’s support.

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Bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; a market is overbought and under the strong resistance of 0.8030.

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