Market Instrument: EURUSD
Timeframe: H4
Analysis: Technical
Structure: Trend Line Breakout and Ascending Triangle
Prediction: Bullish
So as expected last week the price has formed the required confirmation we were looking for on the EU pair. While we have the bullish breakout formed on both ascending triangle and the trend line we have picked up on the bearish trend. The price is now on a pullback close to the trend line where this is going to bring us a major rally close to 50-61% on the fib we have counted on the major bearish trend. If the expected reversal can be identified by the price action this is going to be a good mid-term opportunity on this pair.
Timeframe: H4
Analysis: Technical
Structure: Trend Line Breakout and Ascending Triangle
Prediction: Bullish
So as expected last week the price has formed the required confirmation we were looking for on the EU pair. While we have the bullish breakout formed on both ascending triangle and the trend line we have picked up on the bearish trend. The price is now on a pullback close to the trend line where this is going to bring us a major rally close to 50-61% on the fib we have counted on the major bearish trend. If the expected reversal can be identified by the price action this is going to be a good mid-term opportunity on this pair.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.