EURO/USD multi timeframe analysis

The monthly trend for EUR/USD remains bullish.
However, with the weekly timeframe trending downward, the market has entered a pullback phase on the monthly timeframe. While the weekly highs remain protected, it’s important to note that the deeper the weekly pullback penetrates into the monthly bullish structure, the higher the likelihood that the pullback will conclude.



Identifying the End of the Weekly Pullback
The weekly pullback is considered over when the daily timeframe structure shifts to bullish and successfully breaks above the weekly high. In this case, however, the daily structure turned bullish only to facilitate the weekly pullback toward the protected high. When the daily structure subsequently turns bearish again, it aligns with the primary bearish trend of the weekly timeframe.



Current Market Outlook
At present, the daily structure is bearish. The 4-hour structure, however, has turned bullish, which supports the expectation of a daily pullback. For this scenario to remain valid, the 15-minute structure must continue to hold a bullish trend and eventually break through the protected 4-hour high, thereby confirming the bullish shift in the 4-hour structure.



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Trade Bias and Triggers
As long as the 15-minute structure stays bullish and successfully breaks the protected 4-hour high, the bias remains in favor of taking buy trades during the daily pullback. The ideal trigger for this bias is a sustained bullish 15-minute structure that leads to a confirmed breakout of the 4-hour high, making the 4-hour structure fully bullish.



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