EUR/USD Price analysis: Bulls move and seek a test of key H4 resistance structure – by fx_ross EURUSD Technical Analysis
The 4-hour M-formation neckline resistance is key as bulls move in., there are prospects of an upside correction. Should the bulls commit beyond 1.0650, the 1.07s will be in focus. The following illustrates the bias as per the lower time frames.It was stated that the bulls will need to show up on the front side of the more dominant trendline support or face a downside continuation as explained above.
The 4-hour M-formation is a reversion pattern and while the price remains in a bullish trend on the front side of the bullish trendline, should the neckline resistance give, then there will be prospects of a fresh cycle high for theInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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