EURUSD Buy next week. Downtrend not finished.

The EURUSD pair is about to form a MACD Bearish Cross on the 1W time-frame, which is the chart that perhaps serves at understanding the current situation better than any other. It's not just the Channel Up pattern since November 2022 that is driving the trend but also the candle action on weekly terms. As you can see after each Channel Up top (Higher High), doesn't just decline by -4.37% on average but it bottoms 3 weeks after the strongest red candle on the Higher High rejection.

On the current pull-back sequence, we have had this candle 2 weeks ago so the next one should be the bottom. The next Support is the low of the July 03 1W candle which is 1.08340, so we are sticking with our 1.08450 Sell Target that is not only as close to the bottom (Higher Lows trend-line) of the Channel Up as possible but also above the 1W MA100 (yellow trend-line) that recently supported the pair for 3 weeks in a row (weeks of June 19 to July 03).

See how accurate fractal approach is on our EURUSD analysis, as we accurately caught and bought on the pair's last bottom:


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