On the EUR/USD daily chart, there is an inside bar which indicates that there is an uncertainty in the market.Sellers decided to take a break and give respite to their counterparts.
A breakout of the inside bar minimum (at 1.071) can move quotes towards the lower boundary of the “bearish” trading channel. Further dynamics in the movement of the pair will be brought by “bears” if they manage to attack support at 1,066.
On the EUR/USD hourly chart, the formation of the 1-2-3 reversal pattern followed by the break of resistance at 1.08 can return quotes to the downward trading channel. Implementation of the “Bat” inverted pattern can lead to the correction towards the convergence area at 1.09-1.092. It could be used for opening short positions.
Recommendation: SELL 1.0905 SL 1.096 TP 1.066.
Origin: FX BAZOOKA
