EUR/USD

The single currency has now approached the lowest line of the descending channel and it had broken:

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Euro is forming multiple dojis, signifying the long waited correction. It would be wise to buy the currency at the current price (1.0710). However, we would like to warn you that, on one hand this could be quite risky, as this would be a transaction made against the main trend of the descending movement:

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On the other hand, if Euro manages to pull back up, then there might be an interesting selling point at the 1.0855 level. The second selling point could be the 50% Fibonacci level, which is extended along the last move and it goes all the way up to the level 1.0980. Now, we should rely upon the candlestick patterns, which will form next to the given levels:

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Stay tuned for more and trade with Tickmill!ext to the given levels:

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