EURUSD: Bullish consolidation? (Part II)
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
Note
Note
🔴 Trend is still bullishTrade closed: target reached
✅ Target 1 hit!Note
🔴 Trend is still bullish.Note
Trade closed: target reached
✅ Target 2 hit!
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Related publications
Disclaimer
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.