EUR/USD: Potential Upside After FVG Retest
In this analysis, we explore the potential price movements of the EUR/USD pair in the coming days.
The chart shows that after a strong upward move, the price is currently targeting higher liquidity areas. A key "Break of Structure" (BOS) level is identified, signaling a possible shift in market trend.
There is also a "Fair Value Gap" (FVG H4) on the 4-hour timeframe, which the price may retrace to fill. This zone, along with the 0.5, 0.618, and 0.786 Fibonacci retracement levels, is considered significant support.
It is expected that after a minor pullback to these support zones, the price might resume its upward movement towards the "Weak High" around the 1.10400 area. This level could act as resistance, but if broken, there could be further bullish momentum.
The "Strong Low" at the lower range acts as a key support level, and a break below this could indicate further downside.
This analysis suggests that EUR/USD has the potential to move higher after a brief correction, potentially retesting previous levels. Traders should consider these levels in their trading plans.
The chart shows that after a strong upward move, the price is currently targeting higher liquidity areas. A key "Break of Structure" (BOS) level is identified, signaling a possible shift in market trend.
There is also a "Fair Value Gap" (FVG H4) on the 4-hour timeframe, which the price may retrace to fill. This zone, along with the 0.5, 0.618, and 0.786 Fibonacci retracement levels, is considered significant support.
It is expected that after a minor pullback to these support zones, the price might resume its upward movement towards the "Weak High" around the 1.10400 area. This level could act as resistance, but if broken, there could be further bullish momentum.
The "Strong Low" at the lower range acts as a key support level, and a break below this could indicate further downside.
This analysis suggests that EUR/USD has the potential to move higher after a brief correction, potentially retesting previous levels. Traders should consider these levels in their trading plans.
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