This chart aims to determine the probable direction of this pair over the next few days/weeks.
We have seen:
- A move up from the major demand zone.
- A break of the down trend (purple line down).
- A successful up trend formed (green line up).
We expect:
- A complete retracement to the supply zone.
- Some selling pressure to occur around the intermediary and daily highs.
- A test of the highs to either break this overall consolidation or start a new trend.
Always try see the bigger picture. We are bullish on EURUSD for the time being.
We have seen:
- A move up from the major demand zone.
- A break of the down trend (purple line down).
- A successful up trend formed (green line up).
We expect:
- A complete retracement to the supply zone.
- Some selling pressure to occur around the intermediary and daily highs.
- A test of the highs to either break this overall consolidation or start a new trend.
Always try see the bigger picture. We are bullish on EURUSD for the time being.
Comment:
Absolute great ride up! Well done bulls!