One last rally in EUR/USDIn the right bottom you can see the Daily chart for EUR/USD:
The chart shows the EUR/USD on a daily timeframe.
There was an initial strong rise of 1,700 pips, marked as a 100% move.
After this, the price corrected downward by 1,084 pips, which is 61.8% of the previous rise.
The 61.8% retracement is a common Fibonacci level, often signaling a reversal or pause.
Now, the price is moving up again, following a similar path as the first rise.
The chart suggests a possible new upward move of another 1,700 pips (100%).
A "take profits zone" is marked at the top, indicating a target area for traders.
This pattern reflects how markets often move in waves: trend, correction, and trend continuation.
Fibonacci levels help traders identify potential reversal points.
The chart is used to project future moves based on past price behavior.
The MAIN CHART shows a clear uptrend for EURUSD and the current correction with a flag.
The combination of both patterns give us a clear BUY zone in the channel and using the trend as support or once the channel break upwards.
This is a very good risk reward ratio trade situation where all traders should be!
