Euro / DollaroLong
EURUSD Weekly Forecast 13th July - 17th July
EURUSD's movement this week has been definitely leaning more towards ranging, with a slight bullish bias.
As we can observe from price movement, higher lows have been forming, however price is still being rejected from the previous high.
On the daily timeframe, we can definitely see a consolidation pattern being formed, nearing its end soon.
Thus we can expect a breakout of the pattern sometime this week.
On the H4 timeframe, a rising channel could be seen, with price being supported at the bottom of the channel right now.
This week, we could look to buy EURUSD at current price, or we could also wait for a breakout of the pattern before buying on retracement for more confirmation.
As we can observe from price movement, higher lows have been forming, however price is still being rejected from the previous high.
On the daily timeframe, we can definitely see a consolidation pattern being formed, nearing its end soon.
Thus we can expect a breakout of the pattern sometime this week.
On the H4 timeframe, a rising channel could be seen, with price being supported at the bottom of the channel right now.
This week, we could look to buy EURUSD at current price, or we could also wait for a breakout of the pattern before buying on retracement for more confirmation.
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