Is price moving towards 1.25 ?? EURUSD

Hello Traders ,

we were analysing weekly close candles of pairs when we came to interesting theory about potential rise of EURUSD towards 1.25 in coming months..

Looking at chart we can see there is potential ascending channel pattern ,

We can also notice that price has attempted twice to break below and continue lower , however after 1st attempt price has moved higher to make swing high , and if history is to repeat itself we may see next leg to continue higher towards 1.25 zone or higher to test top of ascending channel pattern.

With solid bullish weekly close supported by volume , the idea of potential bullish continuation in coming /weeks or months looks more real and possible. & overall trend can be considered bullish now.

As short term profit taking cannot be ruled out , buying on dips is suggested till price remains supported above 1.15 level..\

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