Based on yesterday's analysis, EURUSD is nearing its previous swing low from the weekly chart which was a breakout from the monthly value channel. Although EURUSD hasn't made a new high in the last swing, it hasn't broken the previous low either.
Then, in a 1h timeframe, there are three days with strong rejections of the bottom. I took a long targeting 1.175 which is the last 1h swing's projection under the angle of the Shifting Point of Control. I might decide to hold up to 1.22 which is the furthermost point it could go from here over the next few weeks according to a weekly timeframe.
My EURUSD top-down analysis is linked below. This is only an educational post since the rejection has already initiated some growth as I was writing this.
Then, in a 1h timeframe, there are three days with strong rejections of the bottom. I took a long targeting 1.175 which is the last 1h swing's projection under the angle of the Shifting Point of Control. I might decide to hold up to 1.22 which is the furthermost point it could go from here over the next few weeks according to a weekly timeframe.
My EURUSD top-down analysis is linked below. This is only an educational post since the rejection has already initiated some growth as I was writing this.
