the EUR/USD is showing strong bullish momentum after breaking the resistance zone (dotte orange). A bullish ABC (purple) pattern is taking place. Price could aim for 1.11280.
The EUR/USD has a confluence target zone at the 78.6% Fibonacci level, the -27.2% Fib target, and the Wizz 8 target.
The EUR/USD seems to be in a wave 3 of wave 3 (purple). The current pullback is likely to be a wave 4 (purple). But price will need to stay above support (green box) otherwise the bullish outlook is invalidated (red x).
The analysis has been done with SWAT method (simple wave analysis and trading).
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