EUR/USD Forecast: euro waits for a rollercoaster ride

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On the EUR/USD daily chart, there is a correction towards the downtrend.

A breakout of the upper boundary of the bars, formed on December 5-6, will increase the risk of rollback towards 1,093.

This mark corresponds to the 38.2% Fibonacci retracement level formed from the last downward wave.

On the EUR/USD hourly chart, an expanding wedge reversal pattern has been formed on the basis of the “Three Indians”. A successful test of the resistance at 1,08-1,0815 will pave the way towards the 1.091-1.093 convergence area (50% Fibo level from the last downward wave and target 224% in the pattern AB = CD).

Recommendations:

BUY 1,0815 SL 1,076 TP 1,0925,

SELL 1,0925 SL 1,098 TP1 1,077 TP2 1,05.

Origin: FX BAZOOKA

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