EUR/USD Price Analysis: Bulls eye a break of 1.0171 structure

EUR/USD is stalling on the downside and there is a focus on the potential of a key break of structure.
Bulls need to get over the 1.0171 swing point in the 15-min time frame.

Ross J Burland FXStreet

Following the prior analysis, EUR/USD Price Analysis: Bulls could be about to make a move, the price of EUR/USD has stalled in an area that was presumed to be support. This could result in a bullish correction that could eventually result in an upside continuation leaving behind the outcome of an inverted head and shoulders.

EUR/USD daily chart

From a lower time frame, the price is breaking the trendline resistance which could lead to a basis of a bullish correction in the higher time frames:

EUR/USD M15 chart

1.0171 is a swing point on the 15-min time frame that, it broken, could be a significant development in the bull's quest for higher levels.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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