EUR/USD is anticipated to be preparing to take a jump to the upside( LONG/ BUY) as the pattern break is preparing to complete another pattern. A clear reversal should be seen in the grey area as the previous pattern in orange lines should complete the 90 % rule but We anticipate the third touch first to complete the pattern (descending channel ) to go to the upside.
If we do not get the reversal, we should get a continuation pattern to confirm more momentum to the downside.
If we do not get the reversal, we should get a continuation pattern to confirm more momentum to the downside.
The morning star formation is our reversal at the resistance which now act as a support. This all put together gives price much possibility and much probability to go to the upside.
Please comment with your thought.