EUR/USD: the euro is strengthening

EUR/USD: the euro is strengthening

Recommendation:

BUY 1.143

SL 1.1375

TP1 1.153 TP2 1.158 TP3 1.166

On the daily chart of EUR/USD, bears couldn’t break the support at 1.13, it signaled their weakness. Bulls are stronger now. If they break the resistance at 1.143, the “Wolfe waves” pattern will be implemented.  As a result, odds of the movement up to the upper boundary of the upward channel will increase.

eurusd_d.png

On H1, if the pair breaks the resistance at 1.1425-1.143, the “Shark” pattern will transform to 5-0. As a result, risks of the pullback to 38.2%, 50% and 61.8% will increase. 

eurusd_60.png

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