Forex

EURUSD Is Coming Impulsively Higher As AnticipatedAug 26, 2024

EURUSD is coming strongly and impulsively higher after we spotted a bullish breakout out of a daily bullish ABCDE triangle pattern, which occurred after the NFP disappointment at the beginning of August.

On August 06 we shared a 4-hour chart, where we warned about the first wave 1 of a new five-wave bullish cycle that can send the price higher into wave 3 after a pullback in wave 2 that can retest the support around 1.0900 area.

EURUSD 4H Chart From August 06
EURUSD 4H Chart From August 06

As you can see today on August 26, EURUSD is coming impulsively higher within a projected wave 3 and looks like there’s room for more gains, just watch out on wave 4 pullback that can retest the support around 1.1100 area before the uptrend for wave 5 resumes.

As long as the price is above 1.1000 invalidation level, EURUSD is buy the dip.

EURUSD Is Coming Impulsively Higher As Anticipated EURUSD 4H Chart From August 26
EURUSD 4H Chart From August 26

For a detailed view, you can watch below our free video analysis shared 4 days back on August 22

If you are interested in more analysis like this, you may want to join our live webinar today on Monday August 26 2024 @ 15.00CET

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