EURUSD Chart Technical Outlook trading within a bullish flag formation
EUR Basket – moving higher within the CD leg of a Butterfly formation. There is no clear indication that this rally is faltering (bullish)
EUR/USD – The major currency pair completed a bullish 5-wave count (Elliott Wave) at 1.0889. That would suggest that the mixed intraday price action is a corrective 3-wave sequence (ABC). We have formed a corrective channel formation. This can be seen as a bullish flag. On a break of the trend of lower highs at 1.0873, the measured move target is 1.0988.
Resistance: 1.0872 (lower highs), 1.0889 (swing high), 1.0988 (measured move)
Support: 1.0820 (bespoke), 1.0791 (channel base), 1.0695 (swing low)
