HomeContributorsTechnical AnalysisDaily Technical Analysis: EUR/USD Uptrend Aims For Next Target At 1.1750

Daily Technical Analysis: EUR/USD Uptrend Aims For Next Target At 1.1750

The EUR/USD showed a classical break, pullback and continuation pattern above the 1.15 resistance level. Price is still in a wave 3 (orange) momentum which could last till the next round resistance zone at 1.1750. Once wave 3 is completed, price will most likely build a wave 4 correction which should then see price continue higher via the waves 5 (brown/purple) within wave 3 (green).

The EUR/USD is building a rising wedge chart pattern which could be a first signal that wave 3 (orange) is coming close to its completion.

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