On the EUR/USD daily chart, quotes failed to fulfill the target at 1,084 on short positions. The euro got into the convergence zone located within 1,0836-1,0896 levels. Its boundaries correspond to the Targets 113% and 127.2% of the “Crab” pattern.
If there is a break of the resistance line, there could be a pullback towards the 1,095 level. If there is a successful test of support, the quotes will continue to fall towards the 1.0692 mark.
On the EUR/USD hourly chart, if “bulls” once again attack the 1.09 level, the “Bat” inverted pattern will be activated. It could lead to the correction in the direction of 1,093 and 1,095 levels. In the “bearish” market, the rollbacks should be used for opening short positions.
Recommendations:
SELL 1,093 SL 1,0985 TP1 1,0835 TP2 1,07
Origin: FX BAZOOKA
