trader_ak
Long

EURUSD uptrend scenario and potential reversal areas

FX:EURUSD   Euro Fx/U.S. Dollar
Market is retracing higher after 10 months downtrend. I have marked on the weekly chart some arrows showing a potential scenario which helps me anticipate some potential reversal zones. Thus, we could see market retrace lower, to the 50-618 zone marked on the chart, before another leg higher up towards 1.16 where the market may find: a) stops located ( reference 16 Feb 15 - start of final leg down to 1.04 ) and b) potential trendline resistance.
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