On the EUR/USD daily chart, there is a change in the long-term downward trend. It became clear after quotes went outside the downward trading channel and increased the slope of the medium-term “bullish” trend.
In the nearest future, the euro may face a correction once 88.6% target in the inverted “Bat pattern is fulfilled. A successful test of the resistance at 1.12 may lead to the continuation of the rally towards 1.14 and higher.
On the EUR/USD hourly chart, fulfillment of the target 200% (1.12) in the AB = CD pattern may lead to a short-term rollback towards the area of 1.1060-1.1085.
Origin: FX BAZOOKA
