DanV

EURUSD (Update)- Intermediate Term, Still Bullish

Long
FX:EURUSD   Euro / U.S. Dollar
1
Following on from my previous chart with bullish view, we have had some more price action. Although the narrow Pitchfork is no longer appropriate, which, I have removed& replaced them with new minor up trend channels. " days of what looks like only a retracement is not enough to become bearish . Only breach of 1.28 would invalidate the Bullish view. For now we continue in new 5 wave up for the final leg of the larger 5 waves since July bottom. This would still be the case even if the price consolidates as per PINK, before continuing higher. For overall perspective of where EUR could be headed, please see my Dollar Index Chart & VIX Index chart.

Bullish view of EURUSD chart does not necessarily go hand in hand with what might or might not be happening in the EUROZONE Per Se or its relative fundamentals. I have intermediate to longer term view on this chart not for scalping or day trading necessarily.

Time will tell.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.