$EURUSD - Following an ending diagonal

Hi guys! 👋🏻

🔔 Euro is following an ending diagonal pattern on an hourly chart

🔔 Both MACD and RSI indicators are signalling the short-term bullish continuation of the pair. Whilst the chart pattern analysis suggests that Euro is about to hike towards $1.1990 and $1.21300, closing above the $1.1800 is extremely important, otherwise it would be a retest of the support as resistance and Euro will resume the downtrend.

🔔 The pair is following the ending diagonal pattern on an hourly, which in general suggests the local trend reversal. According to the five-wave structure of this pattern, it is assumed that the Euro should have one more leg down before it can breakout from the dynamic resistance. However, if the Euro keeps the bullish pace of March 31, we could witness a breakout and an advancement towards $1.19900 and $1.120200 anytime soon.

🔔 Here is what it looks like on a Daily chart, to give more confidence to buyers.

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ความคิดเห็น:

resistance hit!