EUR/USD: IDEA
Looking @ the 1D chart the EUR/USD looks to have turned bearish
Currently trading @ 1.21300
EU touched resistance @ 1.21800 and failed to break above this level 3 times.
Bearish Harmonic formed at this area signaling a possible reversal
With the DXY looking Bullish the EU might fall even lower
We expect it to fall back to 1.20, then 1.19500 which is 50% Fib Ret.
On the other hand if the pair treats down-trendline as support
then we would expect it to reach 1.22, 1.23 before it falls
Link to previous analysis below
Currently trading @ 1.21300
EU touched resistance @ 1.21800 and failed to break above this level 3 times.
Bearish Harmonic formed at this area signaling a possible reversal
With the DXY looking Bullish the EU might fall even lower
We expect it to fall back to 1.20, then 1.19500 which is 50% Fib Ret.
On the other hand if the pair treats down-trendline as support
then we would expect it to reach 1.22, 1.23 before it falls
Link to previous analysis below
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.