Technical Analysis of EUR/USD

Yesterday after Draghi Speech we saw some bearish movement in eur/usd for further correction wave.

This currency pair already test the 50% retracement level @1.1143

Most likely Scenario:- long above @1.1150 with target 1.1265 for further extension

Alternative :- Short below @1.1150 with target 1.1080 to test 62% retracement.

Moving Average gives bullish indication for these pair in longer time frame.

RSI Divergence are still moves in buying area.

Trend Pattern:- Bullish Butterfly Pattern

Candlestick Pattern:- Piercing Line Pattern which gives bullish indication for these pair

Technical Summary:- Buy

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