EUR/USD: the euro follows the “Shark”

EUR/USD: the euro follows the “Shark”

Recommendation:

BUY 1.168

SL 1.1625

TP1 1.1755 TP2 1.178 TP3 1.182

On the daily chart of EUR/USD, the downward triangle is forming.  If bears break its bottom line, the AB=CD pattern with the 200% target will be implemented. Vice versa, if the pair goes out of the downward channel and breaks the resistance at 1.1755, it will increase chances of the bullish long-term trend’s recovery.   

eurusd_d.png

On H1, bears can’t pull the pair out of the upward channel, it signals their weakness. Bears try to play back "Wolfe waves" and "Sharks" patterns.

eurusd_60.png

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Latest news

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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