EUR/USD Is Long As The Price Is Retracing

Analyst, Full-Time Trader • Mar 15, 2022 at 11:42 AM EDT

The EUR/USD is in retracement mode. Risk-on is dominating the markets now as the Russia-Ukraine situation is not getting worse and negotiations are in progress.

EUR/USD Technical Analysis

The break above W H3 is possible
W H4 is the target
W H3 is interim resistance

4H Chart EUR/USD

(Click on image to enlarge)

Swing low
Swing high
Retracement
Target

The EUR/USD is in retracement mode. Risk-on is dominating the markets now as the Russia-Ukraine situation is not getting worse and negotiations are in progress. At this point, I expect a breakout as you can see from my position. If the W H3 breaks we should see the ATR high hit – 1.1050. Buy the dips scenario is holding bears from advancing further. The final target is W H4 1.1090 for the intra-week setup.

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