EURUSD - Descending channel is the key structure on Daily TF
Market Instrument: EURUSD
Timeframe: Daily
Analysis: Technical
Structure: Descending Channel, Impulses and Lower boundary support
Prediction: Bullish
EURUSD is on an important structure where we have seen many consolidated candle closings close to the current market price level. Also when we watch close enough on the daily and lower timeframes the price has got back inside the channel formed while being supported with the lower boundary. Here the next impulse is expected to show up a bullish trend to the upside in order to revisit the upper boundary or show up a breakout on the following structure.
Timeframe: Daily
Analysis: Technical
Structure: Descending Channel, Impulses and Lower boundary support
Prediction: Bullish
EURUSD is on an important structure where we have seen many consolidated candle closings close to the current market price level. Also when we watch close enough on the daily and lower timeframes the price has got back inside the channel formed while being supported with the lower boundary. Here the next impulse is expected to show up a bullish trend to the upside in order to revisit the upper boundary or show up a breakout on the following structure.