We are having this consolidation period after the MAY/JUNE up run for EURUSD, in which the consolidation period is forming a BULL flag, which we need a break above to set price higher, with 1.1350 zone as the next level of resistance, and which possibly a break above will set price more higher to the upper bound line of the MULTI YEAR WEDGE around 1.1600.
On the lower time-frame 1H chart, we've price made rejected from the upper bound of the descending triangle to the 61.8 Fibonacci zone with rejections, we might see price going to break above the descending triangle from here.
While a break below 1.1200 will set price much lower.
To be noted considering the daily chart price is in an UPTREND.
On the lower time-frame 1H chart, we've price made rejected from the upper bound of the descending triangle to the 61.8 Fibonacci zone with rejections, we might see price going to break above the descending triangle from here.
While a break below 1.1200 will set price much lower.
To be noted considering the daily chart price is in an UPTREND.