Let's analyze the currency pair EUR/USD, based on technical analysis. We will pay more attention to the levels of weekly pivot support and resistance, the basement indicator, and the indicator forming 1-2-3 patterns. Let's focus on the chart.
On June 25, the Vertex 25 indicator, in the midst of the European trading session, signaled that the currency pair was oversold, and after that, there was an active increase in quotes. The confirmation of the indicator signal occurred today, in the second half of the Asian trading session. The confirmation of the signal turned out to be a divergence, which strengthened it. The moving averages with periods of 200 and 50 show the emergence of an uptrend, which is in line with the signals of other indicators. Buyers were able to form a 1-2-3 pattern, thus showing their desire to continue moving quotes upwards. Buyers also managed to confirm the 1-2-3 pattern by breaking through the 1.13908 mark, indicating their strength. In this situation, I will wait for a price pullback to the weekly pivot expansion support level at 1.13831, where it will be possible to open a long position.
