EURUSD Possible Long Position
Price has finished an ABC pattern after an impulsive 5-wave-structure in a daily chart. This correction has ended on strong weekly support as well as a Fibo level (78%). The last minor wave of the primary corrective C wave has not been run so far which has been created a strong Divergence as well as a falling wedge pattern. The pattern and the daily descending line have been broken to show a reversal and a starting of bullish momentum. The broken structure has been retested at the moment and possibly we are going to see an uptrend on this pair this week. As the confirmation to this analysis, you need to wait for breaking the pullout correction (The last small retest bearish correction) on an hourly chart in order to enter a long position. The possible target will be up to 1.68 on Fibo which is the previous resistance zone.
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