Currency analyst

EUR/USD: will a big player stop the euro?

On the EUR/USD daily chart, "bears" failed to break support at the 1,113 level. It helped "bulls" to recover from their losses and lance countering. However, there is a high probability that a large seller will show his strength at the 1,1209-1,127 level and won't allow bulls to move further to the north.

On the EUR/USD hourly chart, the quotes returned to the area of the previous accumulation of short positions. Rebound from the lower or upper boundaries will be a signal for the opening of the short possitions. Near the upper boundary, there is a 88.6% target in the pattern "Shark," which reinforces the value of the resistance.


SELL 1,1209 SL 1,1265 TP 1,104

SELL 1,127 SL 1,1325 TP1 1,113 TP2 1,104

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