EUR/USD could rise from 1,083 to 1,260 in a short time now.

5 ก.ค.

Technical Analysis of EUR/USD:

Keep a close eye on EUR/USD in the coming days and weeks, and there will soon be very important technical signals about the further development in the short and medium term for EUR/USD, which could be ahead of a sharp rise from today's rate around 1,083 to up to 1,260 in the next 3-6 months.

EUR/USD can now give a strong buy signal, and quickly rise to around 1.260.

There is now a very interesting technical picture for EUR/USD, which indicates that EUR/USD may face a strong upswing in the short and medium term.

A large symmetrical triangle formation has been established for EUR/USD (cf. chart) and the overall technical picture now signals a break from this large consolidation formation within a short time.

In the event of a breakout from such large consolidation formations, according to technical analysis theory, the next upswing is expected to be around the same size as the previous upswing before the consolidation formation.

This is marked in the chart here with the red dashed lines.

This is therefore only an indication of what can be expected from price movement after breaking up from such large consolidation formations as we are now seeing here for EUR/USD.

The technical picture for EUR/USD thus indicates that EUR/USD can rise to between 1.23 - 1.26, and preferably within the next six months.

So here it is absolutely worth watching closely, and whether EUR/USD now either breaks up from this large consolidation formation (as the overall technical picture indicates will likely happen), or whether there will eventually be a break down and below the now important technical support level around 1.05.

New and important technical signals for EUR/USD are therefore expected to arrive in the very near future here.