I think this chart was worth a post of its own post, so I decided to share it again.
In the previous post on this pair I still had the descending channel highlighting the bearish market on the chart. The retracement has been greater than 50% of the previous swing so I think it is about time to check for bullish signs.
We are looking at a bullish market shown by highlighting an ascending channel. We have an ab=cd pattern, with structure and completion point showing confluence with 38.2% and 61.8% fib levels creating a cluster. Price starting to form a potential double bottom at the support.
Assuming 1.09 holds EU could potentially be heading towards 1.2 or even higher.
Good luck to all trading EUR/USD these days!!
In the previous post on this pair I still had the descending channel highlighting the bearish market on the chart. The retracement has been greater than 50% of the previous swing so I think it is about time to check for bullish signs.
We are looking at a bullish market shown by highlighting an ascending channel. We have an ab=cd pattern, with structure and completion point showing confluence with 38.2% and 61.8% fib levels creating a cluster. Price starting to form a potential double bottom at the support.
Assuming 1.09 holds EU could potentially be heading towards 1.2 or even higher.
Good luck to all trading EUR/USD these days!!
Potential double top currently forming on a 1h chart. We could potentially be heading lower. Good luck to all trading EUR/USD!!