Good morning traders! Today we will analyze EUR/USD in a low time frame (2H) to show you our short-term vision, and with this, we refer to the behavior we expect in this pair for this week.
🔸We can see that the price was in a bearish movement, where we can draw a wedge pattern.
🔸Last week, the breakout to the upside happened, and we saw a breakout of the structure and a change in the price structure.
🔸We stopped seeing lower highs and lower lows and started to see higher highs and lows, which denotes an obvious change in trend.
🔸For these reasons, we consider that this pair has upside potential in the short term.
🔸The target that we consider correct for this movement is the Resistance zone.
🔸We want to clarify that this is our ONLY short-term vision. In the higher timeframes (Daily, for example), we see that the price broke a key trend line.
🔸This makes us think of a possible downward movement in the long term, but we will most likely see a retest from the supply/pullback zone to the trend line.