EURUSD(weekly) is it over with this huge downtrend?
Updated
EURUSD is meeting serious Support on 1.13000 on Weekly and Daily timeframes with potential huuge reversal to the upside (at least correction)
EU has been rejected by this support many times on weekly timeframe and it might be the final attempt to break it.
On weekly timeframe, EU is little bit choppy right now.
If we will not break the support, there are three targets for the upside (correction targets), which are pretty realistic to be hit.
First target is 1.15400 Resistance, then 1.16100 area, which is more intraday target (we don't have to include this target) and third one is
1.18000 area, where is huge weekly supply/demand zone and resistance.
For me, bullish scenario is possible and I'm going to monitore the weekly closure for some more longterm views.
Let me know what you think guys. Good luck!
EU has been rejected by this support many times on weekly timeframe and it might be the final attempt to break it.
On weekly timeframe, EU is little bit choppy right now.
If we will not break the support, there are three targets for the upside (correction targets), which are pretty realistic to be hit.
First target is 1.15400 Resistance, then 1.16100 area, which is more intraday target (we don't have to include this target) and third one is
1.18000 area, where is huge weekly supply/demand zone and resistance.
For me, bullish scenario is possible and I'm going to monitore the weekly closure for some more longterm views.
Let me know what you think guys. Good luck!
Note
We are still in huge ranging box on weekly timeframe, but with thiskind of bullish momentum, we could see break upside! Be patient
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