The EUR/USD is breaking above the critical 21 ema zone. This occurred after a double bottom (green box) and within a super strong uptrend. What’s next?
Price Charts and Technical Analysis
The EUR/USD is expected to continue with the uptrend. Especially now that price action seems to have completed an ABC (orange) within the wave 4 (purple). The uptrend remains very strong when reviewing the angle of the long-term moving averages and the distance between them.
A bearish pullback remains possible. But price action is expected to bounce and continue higher. This remains valid as long as price action remains above the 144 ema. Only a break below 1.16 would make the bullish outlook less certain (red x). The main upside target is aiming at 1.20 round level.