Hello There,

welcome to my new analysis of EURUSD from a 4-hour timeframe perspective. In recent times, I have spotted interesting setups in the forex market that have the potential to turn into profitable trading opportunities. One of them is EURUSD, the forex pair already accelerated heavy bullishness in the past few times. Now, I have spotted the underlying formational structures which are highly important to consider over the upcoming times.

When looking at my chart, we can see how EURUSD recently increased the heavy bullish momentum towards the upside. It settled above the 50-EMA and the 100-EMA seen in my chart. The final inverse head-shoulder-breakout already activated the head-shoulder target zones as seen in my chart. Furthermore, EURUSD is forming this bullish triangle formation within the structure, which offers the origin for further expansion towards the upside.

The triangle formation will be completed with a final breakout above the upper boundary. Once this emerges, a strong bullish setup will be determined. For the second target, as seen in my chart, to be reached, it is highly important that EURUSD at least holds the established momentum. In this trading setup, the bullish momentum should increase for the final second target to be reached with sufficient probability.

In this manner, thank you a lot for watching!
The support is highly appreciated.

VP