Price Action extremely Long looking for Buy opportunity in 1,1855 - 1,1895 Area (4 Weeks High and 1 Week High). The Target will be 1,120 and then 1,2030 (Low of Juy 2012). This Analysis is based on a proprietary model.
EURUSD seems to be bullish on the short term, but if we look at the trend on 4H is clear that it is short. BUT, there is an inversion pattern on 4h, so probably we could see a short movement and only tomorrow an acceleration to higher levels on Eur
Last week has been crucial for EurUsd.
Area 1,05 is a very important long-term support on a weekly base, so it is clear that 1,05 is a BULLISH area. No parity in the next future but 1,09 area as a target
It seems to be clear that EURUSD could go to 1,0530 between monday and tuesday of the next week. 1,0530 it is a very important area for a a reverse on the long run, so it could be dangerous to increase short positions if there is no confirmation of the short trend.
EURUSD is going to make a reversal on this bullish weekly setup. You may look that the main trend is short, so there could be a correction to 1,0700-10 area and then a downward acceleration firstly to 1,0650 and then to 1,0620.
As you can see on the green area, all the lows over 1,03 and under 1,0550 were bought on a weekly timeframe. So, there is also a Macro environment favorable to a stronger Euro that lead EURUSD to higher prices. The next target form those levels are