The Euro is gaining strength against the U.S. Dollar, and the technical structure on the weekly chart suggests a strong impulsive wave to the upside 📊.
🔍 Key Elliott Wave Perspective:
The current bullish move appears to be part of a larger impulse wave, targeting the 1.2573 - 1.2977 zone 🎯. However, this bullish outlook remains valid as long as the market holds above the critical support level of 1.0205.
📊 Technical Confluence Supporting the Uptrend:
✅ Major Weekly Resistance: 1.0907, where prices will face the 200 EMA, a key trend-defining level.
✅ RSI & MACD: Both indicators are well-aligned with the bullish trend, confirming strength in momentum.
✅ Wave Structure: As long as price remains above 1.0205, the Elliott Wave count remains intact for further upside expansion.
🔹 Break & Hold Above 1.0907? Expect acceleration towards 1.2573 – 1.2977 📈.
🔹 Failure to Hold Above Support? A deeper retracement could reset the bullish wave structure.
⚡ Traders & Investors: Keep an eye on price action near 1.0907—a rejection or breakout here will be decisive!
🔍 Key Elliott Wave Perspective:
The current bullish move appears to be part of a larger impulse wave, targeting the 1.2573 - 1.2977 zone 🎯. However, this bullish outlook remains valid as long as the market holds above the critical support level of 1.0205.
📊 Technical Confluence Supporting the Uptrend:
✅ Major Weekly Resistance: 1.0907, where prices will face the 200 EMA, a key trend-defining level.
✅ RSI & MACD: Both indicators are well-aligned with the bullish trend, confirming strength in momentum.
✅ Wave Structure: As long as price remains above 1.0205, the Elliott Wave count remains intact for further upside expansion.
🔹 Break & Hold Above 1.0907? Expect acceleration towards 1.2573 – 1.2977 📈.
🔹 Failure to Hold Above Support? A deeper retracement could reset the bullish wave structure.
⚡ Traders & Investors: Keep an eye on price action near 1.0907—a rejection or breakout here will be decisive!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.