EUR/USD: bulls need a rest
Read the article on FBS website
Recommendation:
SELL 1.2035
SL 1.209
TP 1.1935
On the daily chart, EUR/USD keeps forming “Spike and ledge with acceleration”. The trend’s angle is increasing the risks of correction. The inability of bulls to keep the pair above 1.2062 and 1.2156 (161.8% and 200% targets) points at their weakness.
On H1, EUR/USD formed 2 convergence areas with the help of senior and junior AB=CD patterns. The fall of the pair below the low of the bar, which marked the previous minimum, will signal the start of bears’ counterattack.
