The EUR/USD has formed a strong support and I expect the price to proceed further up.

Consolidation-Breakout pattern has been formed at the bottom and we expect the price to push further up towards the W H5 zone. If we see the close above 1.2095 then 1.2136 is next. Bulls want to protect 1.1950 as the strong support zone where currently buyers are dominating. If the support fails we will see a huge drop to the downside.

EURUSD


The analysis has been done with the CAMMACD.Core System.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD bulls are attempting to break higher with eyes towards 0.6680

AUD/USD bulls are attempting to break higher with eyes towards 0.6680

AUD/USD bulls are in play as they knock on the doors of a key resistance despite the miss in the Trade Balance. A weaker US dollar in trade on Thursday is giving the commodities a boost. The greenback is correcting the move from Wednesday when the DXY, rallied to 111.735. 

AUD/USD News

EUR/USD extends recovery above 0.9900 as risk-off fades, US NFP in focus

EUR/USD extends recovery above 0.9900 as risk-off fades, US NFP in focus

The EUR/USD pair has crossed the immediate hurdle of 0.9900 confidently and is expected to establish above the same. The risk profile is getting cheerful now as S&P500 has rebounded firmly. Also, yields have cooled somehow as investors are shifting their focus toward the NFP data.

EUR/USD News

Gold aims to extend recovery above $1,720 as focus shifts to US NFP

Gold aims to extend recovery above $1,720 as focus shifts to US NFP

Gold price (XAU/USD) has turned sideways after sensing demand around the critical support of $1,700.00. The precious metal is aiming to cross the $1,720.00 hurdle and will find its next barricade around $1,730.00. 

Gold News

US House Committee turn to DoJ for CBDC development as SWIFT resolves cross-border transfer hurdle

US House Committee turn to DoJ for CBDC development as SWIFT resolves cross-border transfer hurdle

In a letter, the House Financial Services Committee (FSC) asked the Department of Justice (DoJ) for their CBDC assessment. The House Committee analyzed whether the Federal Reserve has the authority to issue a CBDC without authorizing legislation.

Read more

Is the recent S&P 500 rally sustainable?

Is the recent S&P 500 rally sustainable?

Stock investors are all asking the same question... can we trust the recent rally? The market just rallied +5.7% in two trading days. Bulls argue that the rebound could push even higher as the start of Q3 earnings season starts up next week.

Read more

Majors

Cryptocurrencies

Signatures