EUR/USD: the pair is inside the wedge

EUR/USD: the pair is inside the wedge

2019-11-11 • Updated


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. 


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. 



US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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