According our forecast published on 18th July, EURUSD had made a crisp move from our entry price and went in favor of strongly supporting bulls. EURUSD took a heads up from 1.1780 and broke a major price action level at 1.18200. After a long consolidation between 1.17500 and 1.18100, we were expecting the market to make a higher low for the completion of the structure but not every time we get to have a breakout towards the very starting point, in Eurusd case, thatd be 1.17000. Instead the euro zone took advantage from the dollars weakness and pushed its way higher towards our daily EMA50 and 200. The naked trading strategy is also in support of Euro turning the tables towards higher highs now. The complex corrective structure of EURUSD has completed and now we can make a count over our bullish waves now but before that we might face some resistance at  1.19400 and 1.20000. 

BULLISH AND BEARISH CONDITIONS/ POSSIBILITIES :

EURUSD is bound to reach our set targeted destination at 1.19400 - where our daily exponential moving average 50 and 100 are situated along with some strong price action. The supply and demand zone at that area seems to be neutral and indicates a temporary reversal before the structure provides a major breakout. We would be expecting EURUSD to completed its 5th wave in four hourly chart near the aforementioned level and will be taking short sell as a retest towards our upper trend line which the market is trying to breakout of i.e 1.18000- 1.182000

EURUSD D1

Jul 29 2021

1