The EURUSD has exhibited a significant corrective movement since its peak around 1.1016. The liquidity zone, as indicated by us a few days ago, has been breached.
However, there are now clear bullish divergences evident in the On-Balance Volume (OBV).
While the EURUSD is holding ground around 1.0770, the OBV is registering significantly lower, in the range of October 2023 lows.
This signaling situation is considered bullish. Therefore, we anticipate that the EURUSD will remain in an overarching uptrend.
Price targets include the most recent cyclical high and, in the medium term, the previous annual high at 1.1275.
However, there are now clear bullish divergences evident in the On-Balance Volume (OBV).
While the EURUSD is holding ground around 1.0770, the OBV is registering significantly lower, in the range of October 2023 lows.
This signaling situation is considered bullish. Therefore, we anticipate that the EURUSD will remain in an overarching uptrend.
Price targets include the most recent cyclical high and, in the medium term, the previous annual high at 1.1275.