EURUSD hits potential resistance around 1.1850 mark

١٣ أغسطس ٢٠٢٠

EURUSD has rallied past 1.1836/40 resistance in line with expectations. High probability remains for a turn lower from here towards 1.1730 levels if a triangle is unfolding. The alternate labels represent a potential triangle formation, which could terminate around 1.1730 mark. If not, EURUSD is expected to break below 1.1700 and push towards 1.1370 as marked here. In the short term, we turn bearish against 1.1915.

Remain short with stop @ 1.1915, target @ 1.1730 at least.

Good luck!