Daily EURUSD Chart
Looking like a new leg to the upside is going to take place next week.
We are currently in a slighty bullish channel making higher highs and higher lows.
This pair has just fulfilled a Fib retracement 0.786 on daily support 1.228 with retest.
Also performing a 3rd bounce on long term trendline from late 2018.
On the 4hr it looking like we are forming a higher low with MA's about to cross over.
Target from here for me is 1.262 of weekly resistance also coming in line with a weekly
decending trendline.
Looking like a new leg to the upside is going to take place next week.
We are currently in a slighty bullish channel making higher highs and higher lows.
This pair has just fulfilled a Fib retracement 0.786 on daily support 1.228 with retest.
Also performing a 3rd bounce on long term trendline from late 2018.
On the 4hr it looking like we are forming a higher low with MA's about to cross over.
Target from here for me is 1.262 of weekly resistance also coming in line with a weekly
decending trendline.
Comment:
I'm also not ruling out the possibility of coming down to retest the channel for a third bounce, which is why my stop loss is just below that.