EUR/USD about to go Bullish now?
EUR/USD has been in a prolonged state of downtrend for more than 40 days now.
After reversing from 1.1270, the price has dropped nearly 500 pips.
At present, we can see that EUR/USD is at the bottom of an ascending price channel
as shown in my chart. If you look closely, you will notice that even in the previous two
occasions, EUR/USD has reversed after hitting the lower trend line of the price channel.
So, if the area at 1.0750-1.08 region continues to hold, we can see a Bullish reversal
in EUR/USD.
After reversing from 1.1270, the price has dropped nearly 500 pips.
At present, we can see that EUR/USD is at the bottom of an ascending price channel
as shown in my chart. If you look closely, you will notice that even in the previous two
occasions, EUR/USD has reversed after hitting the lower trend line of the price channel.
So, if the area at 1.0750-1.08 region continues to hold, we can see a Bullish reversal
in EUR/USD.
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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.