Currency analyst

EUR/USD is holding ground

The main currency pair keeps consolidating in the 1.1-1.1175 area. The bulls and the bears are currently fighting around the important level of 1.1072. It corresponds to 23.6% Fibo of the last descending wave.


On H1 EUR/USD reached 78.6% of the  "Shark" pattern's target and then started correcting to 50% of the last bearish wave according to the 5-0 pattern. Close to 1.1095 there's an upper border of the short-term bullish trend, as well as the target at 161,8% according to AB=CD. This means the area of convergence. The inability of the bulls to break above this area will be a signal to open short positions.

Recommendation: SELL 1095 SL 1,1150 TP 1,0890


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