EUR/USD: the pair is inside the wedge

EUR/USD: the pair is inside the wedge

Recommendation:

BUY 1.1440 SL 1.1385 TP1 1.1540 TP2 1.1590 TP3 1.1690

On the daily chart of EUR/USD, there is a transformation of the "Shark" pattern into 5-0. As a part of this transformation, the "Triangle" and "Spike and Ledge" patterns were formed based on the 1-2-3 one. If EUR/USD moves out of the consolidation range between 1.2650 and 1.1440 ("ledge"), the middle-term forecasts for the pair can be given. 

eurusd_d.png

On H1, the pair reached the targets of the "Broadening Wedge" pattern. The pattern will be implemented completely if EUR/USD moves back to the resistance at 1.1440. The successful break of this resistance will increase the odds of the "Shark" and "Bat" patterns' implementation. 

eurusd_60.png

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After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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