The EUR/USD 15-minute chart suggests a potential long setup. The price appears to have completed wave (2) and is currently in wave (3) with a possible correction towards the Fibonacci retracement levels of 0.493 at 1.10609 and 0.618 at 1.10567. The target for wave (5) could reach the 1.618 extension level at 1.10848.
This indicates a bullish outlook for EUR/USD in the short term. Traders might consider entering long positions if the price finds support around the Fibonacci retracement levels, with the target set near the 1.10848 level.
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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.