Daily downside leg is due for a correction. EUR/USD bulls are seeking a significant upside correction. EUR/USD is overextended to the downside and the bulls are in anticipation of an opportunity as the Momentum slows and consolidation kicks in. The following illustrates where the next upside opportunity could come from a break of lower time-frame resistance. EUR/USD daily chart The M-formation is overextended and the bulls will be on the lookout for bullish conditions on the lower time frames to target a significant correction. EUR/USD 30-min chart On the 30-min chart, the conditions are bearish with Momentum to the downside and the price well below the 10 SMA. However, on a break of critical resistance, the conditions will be bullish and there would be a higher probability of a significant retracement. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD rebounds towards 1.3450, supported by technical buying on the crosses FX Street 8 months Daily downside leg is due for a correction. EUR/USD bulls are seeking a significant upside correction. EUR/USD is overextended to the downside and the bulls are in anticipation of an opportunity as the Momentum slows and consolidation kicks in. The following illustrates where the next upside opportunity could come from a break of lower time-frame resistance. EUR/USD daily chart The M-formation is overextended and the bulls will be on the lookout for bullish conditions on the lower time frames to target a significant correction. EUR/USD 30-min chart On the 30-min chart, the conditions are bearish with Momentum to the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
