EUR/USD: will the EUR rise?
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Recommendation: BUY 1.1470 SL 1.1415 TP1 1.1570 TP2 1.1660 TP3 1.1760
On a daily chart of EUR/USD, the transformation of the “Shark” pattern into 5-0 pattern continues. Buyers are focused on moving the pair towards the resistances at 78.6% and 88.6% of the CD wave and breaking them. On the other hand, bears plan to move the pair towards the support at 23.6% with the following update of November’s minimum.
On H1, the successful test of the resistances at 1.1470 and 1.1515 (50% of the downward wave) will increase the risks of the implementation of targets at 113% and 88.6% of the senior and junior “Shark” patterns.
