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EUR USD Recovery in the short-term or also in the long term ?


last week  EUR/USD  recovered to 1.1050.
M pattern could be in place -  more decline is expected as long as 1.1080+_ resistance holds. Corrective rebound from 1.0879 should have completed at 1.1230+_ .
The bullish potential is limited by technical indicators

short term  optimistic :in the other hands The confirmation of the closing price reversal bottom is potentially bullish. Typically, this chart pattern leads to see some rally trend. Its first upside target to check 1.1080+_ , closing up above this price will mark new high targets .
In the long term picture, outlook remains bearish for  EUR/USD as long as he trade below long trend line in 1.16.

EUR USD  price analysis
EUR USD  Technical analysis


Double top chart pattern or  Or kind of Bullish Gartley Pattern ?

are we have a double top formed on the EUR USD . Notice that we have a well-defined neckline support level as well as a subtle “M” shape that has been carved out as a result.
in this scenario, we would have waited for the market to break or crack  the neckline in 1.180+_
you should Notice how the EUR USD currency pair reacting after retesting the neckline.
A measured move objective can be used to find a potential profit target. To find this you simply take the distance from the double top up resistance level to the bottom and extend that same distance beyond the neckline to a future, lower point in the market- in this case its equal to 300+_ pips = 1.0560-70+_

On the other hand, a breach of the 1.1080 area has been established from above
Give the EUR USD  fuel for further increases to the 1.1230 area and perhaps even more to the 1.1350 region

EUR USD news
EUR USD analysis

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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