Bullish 4-hour chart for
EURUSD
The
EURUSD
broke its bullish channel that had been with it since February of this year, at the beginning of September, and is trying to reach its new target, which would be its same channel set below. When it broke the channel, it entered another bearish channel with great acceleration.
If we zoom in on the 4-hour chart, we see that it is on the floor of this new channel, so we can take advantage of its rebound to make a profit.
As indicated by the arrows, we would have two very likely options: The first would be to go straight up to reach the middle of the channel or even touch the top of this (as seen in the black box), we deduce that this would be the point as it could be running a shoulder head reverse shoulder and our target would be its clavicular line. The second option would be with the same idea, but this time stopping at the resistance of 1.05136, having more problems in making the rise.
Pau G.
EURUSD
The
EURUSD
broke its bullish channel that had been with it since February of this year, at the beginning of September, and is trying to reach its new target, which would be its same channel set below. When it broke the channel, it entered another bearish channel with great acceleration.
If we zoom in on the 4-hour chart, we see that it is on the floor of this new channel, so we can take advantage of its rebound to make a profit.
As indicated by the arrows, we would have two very likely options: The first would be to go straight up to reach the middle of the channel or even touch the top of this (as seen in the black box), we deduce that this would be the point as it could be running a shoulder head reverse shoulder and our target would be its clavicular line. The second option would be with the same idea, but this time stopping at the resistance of 1.05136, having more problems in making the rise.
Pau G.