EUR/USD Correction Done?
Good morning traders, today we bring you this analysis on the EUR/USD pair based on our short and medium term vision.
🔸The price is in a clear uptrend, where we can trace an Ascending Channel.
🔸During most of the month of January, we were witnessing a corrective process, where the short-term trend in lower timeframes was clearly a downtrend, but if we see the macro trend, there is no indication that the main trend has been broken.
🔸In fact, the price did not even reach a relevant Support Zone.
🔸If we decrease the timeframe to 4H to be able to appreciate the correction more clearly, we see that it was broken to the upside with an interesting movement. Due to this, we consider that there is a possibility of a bullish continuation towards the next resistance zone which is located in the 1.25000 zone.
🔸The price is in a clear uptrend, where we can trace an Ascending Channel.
🔸During most of the month of January, we were witnessing a corrective process, where the short-term trend in lower timeframes was clearly a downtrend, but if we see the macro trend, there is no indication that the main trend has been broken.
🔸In fact, the price did not even reach a relevant Support Zone.
🔸If we decrease the timeframe to 4H to be able to appreciate the correction more clearly, we see that it was broken to the upside with an interesting movement. Due to this, we consider that there is a possibility of a bullish continuation towards the next resistance zone which is located in the 1.25000 zone.
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