Expecting EURUSD to potentially reach 1.2220. EURUSD is showing some rejection at the current level of resistance on the 1 hour and 4 hour charts so price may retrace to 1.21 before the impulse move up to 1.2220. The 1.21 price region is a daily support/resistance level as well as lining up with the 61.8% Fibonacci retracement level.
EURUSD price is in a range on the hour chart and an expanding wedge pattern which also happens to be the right shoulder of a compound inverse head & shoulders pattern. Still room to move up within the wedge. The daily support level in the area of 1.1800 has been respected as both support and resistance in the past. Short term target of approximately...
