On the daily EUR/USD chart, the bulls managed to leave the medium-term descending channel but met resistance located at 1.0638 (23.6% Fibo of the last bearish wave).
Despite the recent success of the euro, sellers are keeping the pair under control, so traders should focus on short positions.
On H1, EUR/USD continues to form the widening wedge pattern. Aggressive entry would mean a short on the break of the bar’s low, marked by point 2. Conservative entry requires the pair’s decline to the point 3.
Recommendation: SELL 1,0603 SL 1,0658 TP1 1,045 TP2 1,037.
Origin: FX BAZOOKA
