EURUSD: Bullish consolidation? (Part II)
Updated
In the short term we can say that the 
EURUSD pair is bullish above 1.0930 (bullish scenario invalidation) on intraday chart. That said, from a technical perspective, we have already reached our previous Target around 1.1040 (see chart/idea below), and from this area a corrective structure should be logical with a potential ABC Pattern. If this idea is correct, the price should return below wave 4 (1.0994) before triggering a new rally. If we look at the 1H chart we see that the Price Action moves within a bullish channel, so the support area could be around 1,098/1,072. In conclusion, if the trend remains bullish, we expect a new consolidation at least around 1.1090 area in the short term.
1.1000-1.1040 TARGET
(Click on Chart for details)
C.O.T. Analysis
(Click on Chart for details)
What's you opinion? ...are you bullish or bearish on this pair?
Trade with care.
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EURUSD pair is bullish above 1.0930 (bullish scenario invalidation) on intraday chart. That said, from a technical perspective, we have already reached our previous Target around 1.1040 (see chart/idea below), and from this area a corrective structure should be logical with a potential ABC Pattern. If this idea is correct, the price should return below wave 4 (1.0994) before triggering a new rally. If we look at the 1H chart we see that the Price Action moves within a bullish channel, so the support area could be around 1,098/1,072. In conclusion, if the trend remains bullish, we expect a new consolidation at least around 1.1090 area in the short term.1.1000-1.1040 TARGET
(Click on Chart for details)
C.O.T. Analysis
(Click on Chart for details)
What's you opinion? ...are you bullish or bearish on this pair?
Trade with care.
Like | Share | Comment
Comment
Comment
🔴 Trend is still bullishTrade closed: target reached
✅ Target 1 hit!Comment
🔴 Trend is still bullish.Comment
Trade closed: target reached
✅ Target 2 hit!
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