Most Preferable scenario:
EURUSD have rallied quite nicely overall for the month of October leaving a high of 1.1180, so far from the start of November until now it has made a higher low at 1.0989 (61.8% Fib level), where i see a bullish channel also developing. As the momentum on the bigger picture is accumulating so expecting this market to make a new high over the course of coming weeks towards 100% Fib extension (1.1290).
Least likely scenario:
If the market breaks the trend line and consolidates below it, chances are it could revisit its lows around 1.0879 which seems least likely with current chart situation.
If you find this idea helpful, make sure you support it.
Trade Safe!
Good luck.
EURUSD have rallied quite nicely overall for the month of October leaving a high of 1.1180, so far from the start of November until now it has made a higher low at 1.0989 (61.8% Fib level), where i see a bullish channel also developing. As the momentum on the bigger picture is accumulating so expecting this market to make a new high over the course of coming weeks towards 100% Fib extension (1.1290).
Least likely scenario:
If the market breaks the trend line and consolidates below it, chances are it could revisit its lows around 1.0879 which seems least likely with current chart situation.
If you find this idea helpful, make sure you support it.
Trade Safe!
Good luck.
