In July 2023, this pair could possibly complete its diagonal pattern of 5 waves.
Since then, it looks like this is a triangle pattern
If you look closely, each leg of this triangle conform to a fibonacci level almost perfectly
and last week could be a completed E wave of this triangle
Upside target in 1 year time frame should be one of these red lines
If the E wave is completed, price should not go lower than 1.067
If the price go lower than 1.059, this triangle will be invalidated.
Note
Looking at DXY. Last night could be the final wave of C wave of flat correction
ending in diagonal pattern.
This also support bullish case for EUR/USD
Note
Now price has broken out of its triangle trend line. let's see if it holds.
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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.