Between inflation, rate hikes, and war: what's next for EUR/USD?
Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: the euro is going to rise
2019-11-11 • Updated
Recommendation:
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.
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