2019-11-11 • Updated
On the EUR/USD daily chart, there is a consolidation in the range of 1.0705-1.0785. A breakout of its upper border will increase the risks of continuation of the rally towards 1.086, and then, towards 1.104 (target 161,8% in the AB = CD pattern ). In contrast, a successful test of the support at 1.0705 can lead to the development of the correction towards 1.0635 and 1.06 levels.
On the EUR/USD hourly chart, the Dragon pattern was successfully implemented. At the present moment, there is a formation of the triangle. A successful test of its upper border and resistance at 1.0775 will open the way for the bulls to the north. "Bears" expect a drop of the quotes below the support at 1.072.
Recommendations:
BUY 1,0775 SL 1,072 TP1 1,086 TP2 1,104,
SELL 1,0705 SL 1,076 TP 1,06.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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