EURUSD / Euro – U.S. Dollar (4H) – ABC Bullish Structure with Double Bottom Base
Pattern Overview:
Pattern Type: ABC Bullish + Corrective Double Bottom
Asset: EURUSD
Timeframe: 4H
Trade Type: Bullish Bias – Monitoring for continuation after rejection from cluster support
🔎 Key Levels
XA: 1.14663 → 1.18299
AB: 1.18299 → 1.16292
BC: 1.16292 → 1.17216
CD: Completion just under 1.15621 cluster
Major Fib Cluster: 0.707% XA, 0.886 AB, 50% CD, Prior Horizontal Support Zone
📐 Fibonacci Extensions & Key Ratios
38.2% retracement: 1.16180
50.0% retracement: 1.15750
161.8% extension: 1.18150
💡 Price Action & Setup
Price has completed an ABC corrective leg, forming a clean double bottom at the D point, hovering over the fib-rich support cluster.
The rejection candle shows buyer interest, and the recent higher low structure implies potential for continuation, especially if price reclaims and holds above 1.1650 short-term structure.
🧠 Market Sentiment
DXY easing slightly after strong dollar dominance
EUR macro calendar quiet – technicals may dominate next moves
Strong base = smart money accumulation likely underway
📊 Next Potential Movement
Break above 1.1675 opens path toward 1.1720, then possibly 1.1815
If 1.1575 cluster fails → risk of full XA retracement
🛡 Risk Management
Aggressive long entries already in play
Conservative entries should wait for higher low confirmation above 1.1650
Protective stop: under 1.1550 zone
📌 Conclusion
This is a bullish structure with a corrective double bottom base sitting right inside a dense confluence zone. Price is compressing between key fibs – expect a directional move next week. Keep your eye on the 1.1675 breakout or 1.1570 loss for next major decision.
“In the densest zones of indecision, patterns and confluence provide the clearest map.”
Pattern Overview:
Pattern Type: ABC Bullish + Corrective Double Bottom
Asset: EURUSD
Timeframe: 4H
Trade Type: Bullish Bias – Monitoring for continuation after rejection from cluster support
🔎 Key Levels
XA: 1.14663 → 1.18299
AB: 1.18299 → 1.16292
BC: 1.16292 → 1.17216
CD: Completion just under 1.15621 cluster
Major Fib Cluster: 0.707% XA, 0.886 AB, 50% CD, Prior Horizontal Support Zone
📐 Fibonacci Extensions & Key Ratios
38.2% retracement: 1.16180
50.0% retracement: 1.15750
161.8% extension: 1.18150
💡 Price Action & Setup
Price has completed an ABC corrective leg, forming a clean double bottom at the D point, hovering over the fib-rich support cluster.
The rejection candle shows buyer interest, and the recent higher low structure implies potential for continuation, especially if price reclaims and holds above 1.1650 short-term structure.
🧠 Market Sentiment
DXY easing slightly after strong dollar dominance
EUR macro calendar quiet – technicals may dominate next moves
Strong base = smart money accumulation likely underway
📊 Next Potential Movement
Break above 1.1675 opens path toward 1.1720, then possibly 1.1815
If 1.1575 cluster fails → risk of full XA retracement
🛡 Risk Management
Aggressive long entries already in play
Conservative entries should wait for higher low confirmation above 1.1650
Protective stop: under 1.1550 zone
📌 Conclusion
This is a bullish structure with a corrective double bottom base sitting right inside a dense confluence zone. Price is compressing between key fibs – expect a directional move next week. Keep your eye on the 1.1675 breakout or 1.1570 loss for next major decision.
“In the densest zones of indecision, patterns and confluence provide the clearest map.”
Note
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.