EUR/USD: shark frightened the euro

EUR/USD: shark frightened the euro

Recommendation: SELL 1.1170, SL 1.1225, TP1 1.1095, TP2 1.1000. 

On the daily EUR/USD chart, the risks of correction of the medium-term uptrend increase. Successful test of support at 1.1700 with the following decline to 1.1100-1.1130 will provoke further decline to 1.1000, 1.0930 and 1.0890. The latter level corresponds to 88.6% target of the shark pattern.

EUR.png

On H1 EUR/USD is trading within the descending channel. Bears are trying to get the pair under control. In the case of the break of support at 1.1170 and triggering of AB=CD pattern, they will succeed.

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