EUR/USD Continuation of Uptrend as the Deep Fake Pattern Suggests

EUR/USD Technical Analysis

  • Bullish continuation
  • ATR is 76 pips
  • Fakeout bullish pattern
  • Important news
  • M H5 is the target

MEGATREND MAs: Bullish – Uptrend

D1 Chart EUR/USD

uptrend
  1. Megatrend pattern
  2. Deep fake/Fake out pattern
  3. Target zone

The EUR/USD is still in uptrend. Megatrend pattern (21-30 days of strong trend without deep pullbacks) still exists and the market is under consolidation and potential profit taking. We can see a big range in the last 5 days of trading. That’s because we have a strong news coming (German GDP, ADP, NFP + ECB) and there is no momentum at this point but it is going to change as news is being released.

Generally I still think that the market is long and have been buying dips as technicals suggest longs. Deep fake or fake out pattern has formed in the last 3 candles and we should see a move up straight from the 1.0850 zone. The target is 1.1055.

This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system Join my Telegram group to receive trading signals.

Cheers and safe trading,

Nenad

Summary of December trading results is HERE (click to see)

aud/usd

Cheers and safe trading,

Nenad

Leave a Reply

Your email address will not be published. Required fields are marked *

5 keys how to instantly
improve your trading

Enter your email below and download the guide!

To get a discount on all my services open the account by clicking on XM banner below
Company

71-75, Shelton Street, Covent Garden, London, WC2H 9JQ

office@top-xe.com

Past perfomance is not indicative of future results. We don't offer refunds!

© 2023 TOP-XE | ALL RIGHTS RESERVED