EURUSD 4H Golden Cross kickstarting the next bullish phase.

The EURUSD pair just formed its first 4H Golden Cross since May 29. Similar to that formation, this is taking place as the new Bullish Leg of the 4-month Channel Up has already started, following a bottom rebound near its 1D MA100 (red trend-line).

In similar fashion as that sequence, we expect it to reach at least the 1.1 Fibonacci extension on the short-term, which sits at 1.18750. If you're looking for an even higher extension, a +5.11% rise at 1.19700 is possible (also based on he previous Bullish Leg).

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