On the EUR/USD daily chart, “bears” tried to attack the diagonal support (the lower boundary of the descending trade channel) two times in a row, but failed to break it through.
A breakout of resistance line at 1,127 will create prerequisites for the northward movement of quotes. On the contrary, a successful attack of the support line at 1,113 will activate the target 88.6% of the Bat pattern.
On the EUR/USD hourly chart, the pattern of expanding wedge has been formed. If the euro returns to the level of 23.6% Fibonacci retracement of the wave 4-5, it will be a signal for opening shorts. On the contrary, a successful test of resistance line at 88.6% will allow us to open longs.
Recommendations:
BUY 1,124 SL 1,1175 TP 1,1365
BUY 1,127 SL 1,1215 TP 1,1415
SELL 1,116 SL 1,1225 TP 1,104
SELL 1,113 SL 1,1195 TP 1,1
Origin: FX BAZOOKA
