EUR/USD Bullish Momentum Continues with New Breakout

Chris Svorcik Elite CurrenSea

Meta description: The EUR/USD made another bullish breakout above the resistance box (dotted orange) and could be ready for a bullish continuation.

EUR/USD

4 hour

TheEUR/USD made another bullish breakout above the resistance box (dotted orange) and could be ready for a bullish continuation.

The EUR/USD could be building a wave C (purple) pattern that could aim at the Fibonacci retracement levels of wave B vs A. The broken resistance could now act as potential support. A break below the support trend line (blue) however would indicate a larger bearish correction as part of the wave B (purple).

1 hour

The EUR/USD breakout could be part of an impulsive wave 3 (blue) pattern as long as price stays above the broken resistance (dotted orange box).

Author

Chris Svorcik

Elite CurrenSea

Experience Chris Svorcik has co-founded Elite CurrenSea in 2014 together with Nenad Kerkez, aka Tarantula FX. Chris is a technical analyst, wave analyst, trader, writer, educator, webinar speaker, and seminar speaker of the financial markets.

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