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EUR/USD wandered in bears’ lair

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Recommendation:

SELL 1.167 SL 1.1725 TP1 1.155 TP2 144

SELL 1.1695 SL 1.175 TP1 1.155 TP2 1.144

On the daily chart, EUR/USD formed a 5-0 pattern: after a pullback towards 50% of the wave CD of the “Shark” pattern, the pair declined. Correction towards 200% target of AB=CD will likely continue.

EUR1.png 

On H1, EUR/USD formed a «Widening wedge” and almost reached 127.2% target of the ideal butterfly pattern. Pullbacks towards 1.1670 and 1.1695 may be used for selling.

EUR2.png

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