EURUSD, Triangle Targets Reached, Possible Continuation Ahead!

Jul 15, 2020

Hello Traders Investors And Community, welcome to this update-analysis where we are looking at the EURUSD, the recent events, the targets which were reached, and what this means for the further development of price-action to look for possible profit-opportunities. The major triangle I mentioned in the previous analysis which was build up in EURUSD finally confirmed the more possible breakout to the upside and the complete upside targets where reached fully as you can watch in my chart, for now the price is shooting some more above the overall targets which are normal but besides that, there are some other important and meaningful factors I detected which need to be taken into consideration for further development of price-action here.

Initial Analysis According The Subject (4-Hour Timeframe):

As you can watch in my chart EURUSD just sowing some bearish supply entering the market with a big red candle which can indicate a correction coming up which can be a normal correction to Fibonacci-supports on the way or a bigger correction where the further support levels which are the 100-EMA in black and the horizontal support at 1.14 need to be tested successfully. Overall EURUSD is still holding up a strong bullish trend which was increased by the bullish triangle breakout, therefore it is within the possible spectrum that EURUSD holds this bullishness to test remaining resistance levels higher in the structure when the support can hold and when there do not enter any solid bearish signs which invalidate this continuation.

As you can examine when looking at my chart is that EURUSD is trading near its 2020 established yearly high at 1.495 which can be a potential target when EURUSD holds the range, therefore it is important that the pair confirms support either at the orange 1.395 level or at the black 1.37 level before moving up higher, when EURUSD shows up bullishness in these support ranges it can be a good place to enter a long position here with targets above, this can be done aggressively with immediate at the support or conservative with entry when there come bullish signals to the surface, although the conservative approach is the better one here traders should decide according to individual risk-preference.

In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you!
The past, like the future, is indefinite and exists only as a spectrum of possibilities.

Information provided is only educational and should not be used to take action in the markets.

Jun 23, 2023

Note

EURUSD bounced at the support-zones as expected to breakout the 2020 all-time-high region. ✔

Sep 1, 2023

Note

ANALYSIS UPDATE: EURUSD greatly bounced in the support zone and exceeded all the previously established All-Time-Highs.

Sep 1, 2023

Note

ANALYSIS UPDATE: EURUSD on the middle- to long-term changed important dynamics. Updates are in my latest TradingView ideas.