EUR/USD technical analysis
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ATR range is 1.0535-1.0682.
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EUR/USD bullish ascending scallop pattern.
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We should see a move up om Daily TF.
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Final swing target is 1.0775.
MEGATREND MAs: Bullish
D1 chart EUR/USD
1. Ascending scallop pattern start.
2. Established low.
3. Continuation.
4. New entry zone.
5. Swing target.
The EUR/USD has been volatile in the last 14 days, making 102 pips of the ATR. Each pair which is higher than 100 pips in the ATR(14) is considered to be volatile. The intraday predicted range is 1.0535-1.0682. We will see if the bulls will make it to the target.
Ascending scallop pattern is showing signs of domination in the D1 timeframe. We might see a continuation of a bullish move in the zone that I marked with 4. That’s 1.0620-30. The first target is the ATR projection high while the final target is the Q H5 at 1.0774. Expected volatility should be enough for the ATR target today.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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