Hello ladies and gentlemen, anticipating the market opening on Monday! While there is time, it is possible and necessary to outline possible perspectives for the upcoming trading week, particularly on the euro. EUR USD 4H timeframe based on closing prices. Looking at the euro on the four-hour timeframe, the euro, within the Expansion Model, during Friday's uptrend, successfully reached the northern target closest on this timeframe, formed at the 100% Fibonacci Retracement level at the price of 1.0743, followed by a decline, ending Friday's trading at 1.0691. After the market opens on Monday, the euro has two equivalent scenarios, both bullish and bearish. Let's start with the bullish scenario, which I will consider when the euro price manages to settle above the 100% Fibonacci Retracement level at the price of 1.0743, with further continuation of the uptrend towards the 200% Fibonacci Retracement level at the price of 1.0809. As for the bearish scenario, I will be interested when the price consolidates below the trendline of the Expansion Model, so there is no need to rush with opening orders on the euro until the desired setup is formed. Wishing everyone a successful weekend and looking forward to the market opening on Monday.
