JLJ002500

EURUSD - Long-term & Mid Term trending up. Analysis

FX:EURUSD   Euro / U.S. Dollar
38 0 3
1M: Long-term DN trend (since 7/2008). Key support ~1.04624. Consolidating for more than a year (since 4/2015). Current bullish price action. Expect price to test upper consolidation area. Price has been more bullish in nature YTD. A break above 1.1600 with bullish price action would indicate a potential correction. Such a correction could last a couple years or more. The long-term TL resistance/channel would be a 76.4% Fib Retrace.

1W: Expect a test of ~1.145 resistance zone . Look for price to retrace to create a good entry point.

This is not a great entry point. Look for price to retrace, before entering long.
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