X5

EURUSD H1 - Possible structure (Short and Long positions)

X5  
FX:EURUSD   Euro / U.S. Dollar
Bullish 3D pattern is in play and a possible Wolfe structure can be setup.

a) If the price breaks a little bit the resistance channel (point 5) and a bearish divergence emerges, then it could be a good opportunity to go short targeting 61.8-78.6 fibo retracements (as a first target) and Wolfe wave target as second.

b) If channel remains intact, then it could be a good idea to go Long around 61.8-78.6 Fibo retracements.

Keep in mind that the pair is bullish , but the Bearish Bat pattern on D1 chart is complete (see link below) and bearish divergence is present, so the price could go down in short term.
Comment: Looking for option b)

Waiting for reversal bar pattern between 1.1241 and 1.1159

If price go below that range, a bullish ABCD on H4 chart can provide another possible entry point between 1.1196 and 1.1085

There are bull divergences on H1 and H4 charts

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