EURUSD has dropped from the highs after reaching the target as predicted in this article. After hitting resistance zone it could proceed above 1.1470 and it dropped towards 1.1220 support. At this point we can see a potential N 1 2 3 bullish pattern after a failed bottom at L3 support. Have in mind that the pattern has been forming within the bearish pennant so it might indicate a profit taking that happens on Fridays.
Any breakout above 1.1290-95 zone could target 1.1320. First profit taking usually happens around London noon while the second wave of Friday profit taking happens near London close. If we see N 1 2 3 validated we also need to pay attention to the second wave of profit taking where we could see either a continuation or a reversal.
Bearish breakout below 1.1245 should lead to 1.1230 and 1.1200 subsequently.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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