Between inflation, rate hikes, and war: what's next for EUR/USD?
Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: things are not good for the euro
2019-11-11 • Updated
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.
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