The trend in the scenario above is clearly bearish. We have also had a recent break of structure at the marked horizontal arrows, which means we can expect price to react from the supply zone that broke the structure.
EUR/USD: the euro is going to rise
2019-11-11 • Updated
BUY 1.1425 SL 1.137 TP1 1.1525 TP2 1.159 TP3 1.17
On the daily chart of EUR/USD, there is a transformation of the "Shark" pattern into 5-0. Bulls plan to implement the "Head and shoulders" pattern. The pair needs to test the resistance at 1.445 (38.2% of the "Shark" pattern) to activate that pattern.
On H1, the "Spike and ledge" pattern is implemented. The pair stuck in the consolidation range between 1.1265 and 1.1425 ("ledge"). If the euro moves out of the upper border of this range, it will increase the odds of the "Bat" and "Shark" patterns' implementations. Otherwise, if the lower border is broken, the pair will continue to fall.
Hello, my beautiful readers. This week, we continue our critically detailed look at the markets in hopes of getting profitable trading opportunities. As usual, I'll be starting with the DXY (US Dollar Index) since it holds considerable sway over the Major currency pairs.
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