Wave analysis of EUR/ USD pair for January 16. Draghi and Brexit put pressure on the euro

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• Intraday technical levels and trading recommendations for EUR/USD for February 19, 2019 888011000 110888 Considering that June 2018, the EUR/USD set has actually been moving sideways with slight bearish tendency within the portrayed bearish Channel (In RED).On November 13, the EUR/USD showed current bullish recovery around 1.1220-1.1250 where the current bullish motion above the depicted short-term bullish channel (In BLUE)was initiated.Bullish fixation above 1.1430 was needed to improve additional bullish motion towards 1.1520. Nevertheless, the market has been demonstrating obvious bearish rejection around 1.1430 couple of times so far.The EUR/USD pair has lost its bullish momentum considering that January 31 when a bearish engulfing candlestick was shown around 1.1514 where another coming down high was established then.On February 5, a bearish day-to-day candlestick closure below 1.1420 terminated the recent bullish recovery. This enabled the current bearish motion to occur towards 1.1300-1.1270 where the lower limit of the illustrated DAILY channel concerns satisfy the set. The EUR/USD set was demonstrating weak bullish recovery around the depicted cost zone(1.1300-1.1270)with early signs of bearish reversal probability.A bearish flag pattern might end up being verified if bearish persistence below 1.1250 is achieved on the daily-chart basis. Pattern target is forecasted towards 1.1000. Trade Recommendations: A counter-trend BUY entry was already recommended near the price level (1.1285 )(the lower limit of the depicted movement channel). Stop Loss to be situated listed below 1.1225 while T/P level to lie around 1.1350 and 1.1420. The product has been provided by InstaForex Company-www.instaforex.com
• February 19, 2019: GBP/USD is showing bullish breakout outside the H4 bearish channel.