EUR/USD: there might be a rebound

EUR/USD: there might be a rebound

On the EUR/USD daily chart, there is a correction towards the upward near-term trend. If Bulls manage to consolidate above the level of 1.344 (78.6% from the downward near-term wave), the risks of the continuation of the rally towards the target 127.2% in the Crab pattern will increase. A downfall of the euro towards the area of 1.1255 – 1.129 can be used for opening long positions.

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On the EUR/USD hourly chart, a downfall of quotes towards the lower borders of the short-term and near-term trading channels followed by the rebound will allow us to find the most beneficial entry point.

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