- Target zone (green): This is the zone we want to reach to maximize our profits. This is a 4H timeframe zone.
- Cur. (red): This is the zone that has not yet been broken with conviction. This is an important zone!
- Cur. (orange): This is the zone that has lifted the price several times. That is why this is an important zone for our analysis.
This is a 4H timeframe zone.
- Major (green): This is a zone that has not been exceeded since November. This is also a 4H timeframe zone.
I expect the EUR to rise against the USD currency.
The price has already broken trendline 2 several times. This can be seen in the blue circles. Despite the breakthroughs, the price has recovered several times by returning to the channel again. This indicates to me that we are dealing with a market where the bulls are in charge.
In addition, I believe the price will rise to the Current . There it will make a retracement and make a new, stronger upward attempt.
I'm thinking here of a breakthrough of the . The pullback is possible at the breakthrough. When the breakthrough is confirmed, the price will move to the target zone.