We can see that EURUSD has rallied and formed an impulsive candle on the weekly chart.
This has confirmed the end of the correction the pair had been doing earlier.
Trading Preference
The only preference at this time will be to buy the pair. Pull backs on the shorter timeframe charts could offer value. Therefore let us look at 4-hour chart for a good entry point.
The pair has made two consecutive higher highs on 4-hour chart and therefore, we can wait for a bullish candle around the lower line of the up channel to enter a buy position, as drawn in the chart.
