Analysis of EUR/USD Short/Medium Term. The price showed two different bearish impulsive with similar depth. The price action is bear structured. As I showed in the Long term view there are two main lower targets that could be achieved such as 1.06382 and 1.04450. This view is confirmed with a break-out of the 1.0701 area.
Probably, this week we could assist at a retracement up to near 1.08213, as the first demand zone. If the price breaks up the structure, the next main important area becomes near 1.09534 with a bigger Risk-Rewards for a hypothetical sell.
The break up of this last one could mean a probable rupture of the big curve channel. In my opinion, for having a view like that, we have to wait for an hiking rates from the ECB for a recovery of the euro.
The brightness of areas (RED) means the importance of that area.
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Probably, this week we could assist at a retracement up to near 1.08213, as the first demand zone. If the price breaks up the structure, the next main important area becomes near 1.09534 with a bigger Risk-Rewards for a hypothetical sell.
The break up of this last one could mean a probable rupture of the big curve channel. In my opinion, for having a view like that, we have to wait for an hiking rates from the ECB for a recovery of the euro.
The brightness of areas (RED) means the importance of that area.
Keep updated and subscribe!
Trade closed: target reached:
EUR/USD reached the first target designed. The RSI (4h/D) shows a possible divergent between the price and it. So, a retracement roughly in red areas could be considered. Although red areas could seem like recovery, it is a bear market. There are no fundamental supports for a change of forecasts. Another break-out of the 1.06382 area would move the focus to the next target near 1.04450.