Comprehensive Analysis on EURUSD
Chart Analysis
H1 Chart:
• The chart indicates a clear Elliott Wave structure.
• Wave (ii) appears to have ended around the 1.06631 level.
• Wave i of the current impulse seems to have completed near 1.09605.
• A correction wave ii is likely in progress, with potential support at the 1.07727 level (61.8% Fibonacci retracement).
H4 Chart:
• The larger wave (ii) correction appears to have ended around 1.06631.
• An impulse wave (i) completed around 1.09605, followed by a corrective wave (ii).
• The current wave structure suggests that wave i of the next impulse is forming.
• Potential upside targets for wave iii are around 1.11414.
Daily Chart:
• A completed wave 2 correction is visible, and the market seems to be forming wave 3 upwards.
• The potential targets for wave iii are around 1.11414 and higher at 1.12736.
• MACD and RSI indicate bullish momentum.
Technical Indicators
MACD:
• The MACD on the H1 chart is slightly above zero, indicating a possible bullish momentum.
• The H4 and daily charts show MACD below the signal line, suggesting the end of a correction phase and potential upward movement.
RSI:
• The RSI on the H1 chart is at 57.95, suggesting a bullish trend.
• The H4 and daily charts have RSI values of 47.75 and 54.11, respectively, indicating neutral to slightly bullish momentum.
Key Levels
• Support Levels: 1.07727, 1.06631, 1.05000
• Resistance Levels: 1.09605, 1.11414, 1.12736
Entry Points
1. Long Entry: Consider entering a long position around 1.07727, with a stop loss below 1.06631 and targets at 1.09605, 1.11414, and 1.12736.
2. Additional Long: Add to positions if the price breaks above 1.09605 with strong momentum.
Summary
The EURUSD pair appears to be in a corrective phase within a larger bullish trend. A significant support level is around 1.07727, and bullish confirmation can be seen if the price breaks above 1.09605. Targets for the upward movement are set at 1.11414 and 1.12736, aligning with the Elliott Wave projections and Fibonacci levels.
H1 Chart:
• The chart indicates a clear Elliott Wave structure.
• Wave (ii) appears to have ended around the 1.06631 level.
• Wave i of the current impulse seems to have completed near 1.09605.
• A correction wave ii is likely in progress, with potential support at the 1.07727 level (61.8% Fibonacci retracement).
H4 Chart:
• The larger wave (ii) correction appears to have ended around 1.06631.
• An impulse wave (i) completed around 1.09605, followed by a corrective wave (ii).
• The current wave structure suggests that wave i of the next impulse is forming.
• Potential upside targets for wave iii are around 1.11414.
Daily Chart:
• A completed wave 2 correction is visible, and the market seems to be forming wave 3 upwards.
• The potential targets for wave iii are around 1.11414 and higher at 1.12736.
• MACD and RSI indicate bullish momentum.
Technical Indicators
MACD:
• The MACD on the H1 chart is slightly above zero, indicating a possible bullish momentum.
• The H4 and daily charts show MACD below the signal line, suggesting the end of a correction phase and potential upward movement.
RSI:
• The RSI on the H1 chart is at 57.95, suggesting a bullish trend.
• The H4 and daily charts have RSI values of 47.75 and 54.11, respectively, indicating neutral to slightly bullish momentum.
Key Levels
• Support Levels: 1.07727, 1.06631, 1.05000
• Resistance Levels: 1.09605, 1.11414, 1.12736
Entry Points
1. Long Entry: Consider entering a long position around 1.07727, with a stop loss below 1.06631 and targets at 1.09605, 1.11414, and 1.12736.
2. Additional Long: Add to positions if the price breaks above 1.09605 with strong momentum.
Summary
The EURUSD pair appears to be in a corrective phase within a larger bullish trend. A significant support level is around 1.07727, and bullish confirmation can be seen if the price breaks above 1.09605. Targets for the upward movement are set at 1.11414 and 1.12736, aligning with the Elliott Wave projections and Fibonacci levels.
Penafian
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