Eurusd - MTF Analysis
Test of support: @ 1.16642, a slight breakout occurred, which could be interpreted as a stop-loss hunt. Additionally, there was a trendline breakout.
Expectation: A potential pullback to around 1.11873, which is a resistance level that coincides with a double top pattern. This could also serve as a retest of the previously broken trendline.
Continuation: After the pullback and retest, the uptrend could potentially resume, with a target of approximately 1.218628.
Test of support: @ 1.16642, a slight breakout occurred, which could be interpreted as a stop-loss hunt. Additionally, there was a trendline breakout.
Expectation: A potential pullback to around 1.11873, which is a resistance level that coincides with a double top pattern. This could also serve as a retest of the previously broken trendline.
Continuation: After the pullback and retest, the uptrend could potentially resume, with a target of approximately 1.218628.
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