DevangPanchasara
Long

its at turning point

FX:EURUSD   Euro / U.S. Dollar
If its really in uptrend then it will test the break of upside sloped channel and then go back inside the up-slope channel and move gradually higher, if it fails to sustain this up-slope channel we can go way below 1.16..potentially below 1.15 area...
Nice idea on EURUSD and there may be bullish potential as you have identified. Interesting to see the usage of the ascending channel to anticipate the rise. I am anticipating the potential bounce based on the support levels I have identified. Currently, it has broken the 1st support that I have identified and is testing the 2nd support level at 1.159, with a 76.40% Fibonacci retracement. Stochastic has also bounced off its support at 2.8% and thus a corresponding bounce may occur. If a potential bounce does happen, we can then keep a close eye on the horizontal swing high resistance at 1.169, with a 61.8% Fibonacci retracement. Looking forward to seeing how things develop.


Please have a look at my idea and share with me what you think.



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