Recommendations: SELL 0…
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.
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.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.