EURUSD rebounded after reaching the weekly demand zone. But it seems to create a correction pattern rather than a strong impulse. However, as it completes the 4-hour bullish pattern, a 4-hour bullish can occur at any time. Currently, the above resistor is the daily supply zone. So, if a strong break here fails to move above the blue support line in the center of the chart, it is likely to move back into the weekly demand zone.
However, a second upward wave can be expected if the resistance section is strongly broken and the blue support line is rebounded.
Finally, even in the weekly demand zone, we expect the bottom to be renewed again if the rebound fails.
However, a second upward wave can be expected if the resistance section is strongly broken and the blue support line is rebounded.
Finally, even in the weekly demand zone, we expect the bottom to be renewed again if the rebound fails.
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.