Currency analyst

EUR/USD: euro was caught by the bears

On the daily EUR/USD chart the pair came to the lower border of the 1.1-1.1175 consolidation range. Successful test of support will lead the pair further down to the target of в AB=CD pattern at 161.8% (1.0890). Our earlier signal to sell from 1.1079 was successful. The short position was opened. We recommend to place the stop order to the breakeven point. 


On H1 EUR/USD the AB=CD pattern is active. Its 224% target is at 1,.955. The nearest support is at 1.1038.

Recommendation: hold short positions. 

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