EURUSD - Chart Analysis 30th June 2017

Keeping a close eye on EURUSD over the coming weeks...

As we can see from the Monthly, we had a breakout of this penant/wedge pattern, but never came to retest the trendline as resistance.

Price has began appearing bullish over last few months, after being stuck in this range.

Now price has gained the momentum to begin rallying to this 2800 zone, if it can break through 2200.

Overall outlook for me is bearish, but at this point the market is moving up ready for the continuation down.

This being said, I am looking for short term bullish opportunities in the EUR/USD as it works it's way up.

Weekly Price Action demonstrates this breakout of the zone the price has been trapped in for over a year and closed above the 200 EMA.

Price could continue further before a pullback, or a pullback to value before continuation up.

Daily shows an ascending trendline that is being respected - unless price breaks below and retests, I'll continue with a short term bullish outlook.

Price has hit resistance at this 1770 level, decelleration would need to occurr, but Friday's candle closed out strong.

Price will need to pull back to value, marking in the current Fib zone, the 50% tallies up with the Daily 20EMA and the dynamic trendline support.

If price does pullback to this zone I will be looking to take this pair long.

I see two scenarios possibly occurring...

The pullback from the current level for a retest of the dynamic trendline.

A breakout of the current resistance level and a retest of this resistance level as support along with the dynamic trendline.

Ultimately, will see how the week plays out and if any opportunities present themselves.