Currency analyst

EUR/USD: the trick of the bears

EUR/USD is consolidating within 1.1000-1.1750 range on the daily chart. The bears are in control. This may be seen from the fact that the pair breached thw lower border of the medium-term uptrend and then retested it. We recommend selling the pair on its attempts to recover.

On H1 EUR/USD reached 88.6% of the "Shark" pattern's target. After that there was a correction. The pair's currently finishing to form 5-0 pattern. Recoil from 1.1079 (38.2%), 1.1095 (50%) and 1.1112 (61.8%) will provide a signal for opening short positions. 

Recommendation: SELL 1,1079 SL 1,1150 TP 1,0890; SELL 1095 SL 1,1150 TP 1,0890; SELL 1,1112 SL 1,1150 TP 1,0890

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