FX.co ★ Comprehensive Analysis in Trading: Mastering Methodologies

Hello traders and may your trading be profitable! Regarding the EURUSD pair, the upward movement stopped around 1.1650, which was quite expected from the Envelopes perspective, as it was the upper limit of the four-hour trading range and the midpoint of the daily trading range. The support from the hourly timeframe is at the level of 1.1603. Since the target on the daily timeframe is at 1.1776, we can expect the price to continue rising towards that level, and this upward movement will remain valid as long as we trade above the 1.1603 level. However, the fact that the four-hour timeframe is at its limit indicates that any further growth is likely to be very slow.