EUR/USD: the euro is going to rise

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. 

eurusd_d.png

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. 

eurusd_60.png

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