EUR/USD: triangle stopped the euro

EUR/USD: triangle stopped the euro

Recommendation:

BUY 1.1745

SL 1.1690

TP1 1.1815 TP2 1.1845 TP3 1.191

On the daily chart of EUR/USD, the first attempt of bulls to lead the pair out of the descending triangle and trade channel failed. Bears seized the initiative. As a result, the pair risks consolidating in the 1.15-1.1850.

EUR1.png 

On H1, EUR/USD bulls are still hoping for “Wolfe waves” and “Shark” pattern. To do that, they will need to return the pair to resistance at 1.1745 and conquer it. Formation of the “Double top” increases the risk of a pullback from the lower border of the uptrend channel.

EUR2.png

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