EUR/USD: step backwards and two steps forwards
Read the article on FBS website
Recommendation:
BUY 1.1745
SL 1.1690
TP1 1.1845 TP2 1.1865 TP3 1.1910
On the daily chart, EUR/USD is correcting to the short-term downtrend towards 38.2% of the last bearish wave and higher. The pair formed a pin bar and if it goes below its lower border bears will be able to return the pair to the diagonal support.
On H1 of EUR/USD, there’s a “Crab” pattern with a target at 161.8%. Formation of a “Three Indians” pattern increases the risks of decline to the convergence area 1.1740-1.1747, where bulls will become more active.
