EUR/USD Ascending Scallop Might Target 1.1470

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The EUR/USD has formed an ascending scallop pattern and for continuation it needs to break and close above 1.1440.

A rejection from 1.1390-1.1400 zone is bullish for the EUR/USD but only if it breaks above 1.1440 we can talk about bullish continuation. Ascending scallop pattern targets 1.1470. If the price breaks 1.1470 it will mean the next bullish leg of the pattern has been formed and 1.1526 is the next. Below 1.1355, the EUR/USD will be neutral again.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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