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 still has a chance to rise
2019-11-11 • Updated
TP1 1.1725 TP2 1.1825 TP3 1.2035
On the daily chart, EUR/USD was forming a “Shakeout-Fakeout” pattern dueing the 2 consecutive months. Both bears in August and bulls in September failed to lead the pair outside of the 1.15-1.1850 trading range. As a result, the test of support at 1.1625 will be important.
On H1, EUR/USD formed a “Shark” pattern. Its 113% target and 38.2% level of the last rising wave form the convergence area. A recovery from it will allow bulls to resume the uptrend.
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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