EURUSD - 4H Sell opportunity

16 May 2024

The EUR/USD 1-hour chart shows a clear pattern of bullish movements, marked by three distinct legs of upward momentum.
Each leg is followed by a pullback, indicating a consistent pattern of price corrections after bullish advances.
Given this recurring behavior, it is likely that EUR/USD will experience another pullback similar to the previous movements.

For the target of this anticipated pullback, we can consider the base of the latest rise, which is highlighted around the 1.0820 level.
This area marks the starting point of the most recent upward leg, and it is a logical support level where the index might find stability after the expected retracement.
Traders should watch for bearish signals confirming the pullback and prepare to take advantage of potential buying opportunities at the support zone.

17 May 2024

Not

The anticipated pullback in EUR/USD has occurred as expected. The important zones remain valid, providing another opportunity to sell. Target the base of the latest rise at 1.08220.