EURUSD price action might sketch a rectangle 18-22May2020

Though we are still in the weekly downtrend channel, the price could move in euro's favor now that it tries to bounce off from a rather strong support area. The chart clearly outlines our resistance lines due to lessening volatility in the market and feels somewhat predictable. Trading will most likely be influenced by MA lines (50/100) and harmonic patterns on lower TFs (15m/1h).

Entry for longs: 1.0800 - 1.0840
TP1: 1.0850
TP2: 1.0890
TP3: 1.0985
SL: 1.0772

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Trade active:

TP1 and TP2 achieved. :)

Trade active:

TP3 was almost hit today (16 pips away). There is a shooting star on the 4h chart, and some might have switched sides.

Trade active:

We witnessed a close retest of yesterday's high.

Trade closed: target reached:

TP3 was reached today.