EUR/USD: the EUR is strengthening

EUR/USD: the EUR is strengthening

Recommendation:

BUY 1.1445 SL 1.139 TP1 1.1545 TP2 1.159 TP3 1.169

On a daily chart of EUR/USD, there is a correction towards the downward middle-term trend as a part of the transformation of the "Shark" pattern into 5-0. 

If the pair successfully breaks the resistance at 1.1445 (38.2% from the CD wave) the "Head and shoulders" pattern will be implemented. Bulls will have a chance to move the pair out of the downward channel and continue going up. 

eurusd_d.png

On H1, the break of the downward channel' upper border and successful test of the resistance at 1.1445 will increase the risks of the implementation of the 88.6% targets of the "Bat" and "Shark" patterns. 

eurusd_60.png

eur

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Latest news

XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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