EUR/USD: things are not good for the euro

Recommendation:

SELL 1.1815

SL 1.187

TP1 1.1715 TP2 1.167 TP3 1.16

On the daily chart, EUR/USD created grounds for the realization of the |Head and shoulders” pattern. The necessary conditions include a break of support at 1.1805-1.1820 with the following exit of the pair outside of the uptrend channel. On the other hand, renewal of last high above 1.19 will increase the risks of the rally’s continuation.

On H1, EUR/USD the exit of the pair outside of the uptrend channel will create grounds for triggering AB=CD pattern. Its 127.2% target is near 1.1670.

Ivan Karamazov

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