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
- Megatrend pattern
- Deep fake/Fake out pattern
- 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)
Cheers and safe trading,
Nenad
