EUR/USD Forecast. Euro got lost in corridors

eur_usdRecommendation:

SELL 1.2215 SL 1.227 TP1 1.2115 TP2 1.2095 TP3 1.1995

BUY 1.2515 SL 1.246 TP1 1.2615 TP2 1.2715 TP3 1.2815

On the daily chart, EUR/USD keeps consolidating in the 1.2215-1.2515 range within spike and ledge pattern. A break of resistance at 1.2515 will lead to the uptrend’s resumption. On the other hand, decline below support at 1.2215 will increase the risks of a correction.

EUR1.png

On H1, EUR/USD keeps forming a “Widening wedge” pattern. The decline to the point 5 will open the way down to 78.6% of the Gartley pattern.

EUR2.png

 

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