EUR/USD has formed bullish BAT pattern in 4 hours chart , a jump till 1.1035/1.10800 cannot be ruled out .
The pair’s minor support is around 1.0920 which confirms further weakness, a decline till 1.08950/1.0865/1.0850.
Further weakness can be seen only below 1.0800.
On the higher side minor resistance is around 1.0970 and break above would extend gains till 1.100/1.035/1.1080.
It is good to buy at dips around 1.0925-28 with SL around 1.0890 for the TP of 1.100/1.1035/1.1080.
Comments
nixdem
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I wonder if it reaches 1.093 before GDP.
The_Cannalyst
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thx for sharing..here is my view: At the moment i see on the one hand the chance for a double bottom with basis 1,08. The target of this formation is 1,1425. -Above 1,1425 there is enough place to make a new high at 1,18. (orange counting)
On the other hand there is the strong momentum and dynamic of the longterm downtrend - we are trading at its trendchanels upper edge. This can perhaps be interpreated as a new anticyclical selling signal as long as we trade below this level.
-Below the last valid orange "3" at 1,08 a drop to 1,04 can be exspected
-below the last valid red "2" a longterm selloff can be exspected with target @ 0,92