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Euro / U.S. Dollar
Long

EURUSD: Rebound is coming?

By TheAnonymousBanker
Updated
From a technical point of view, the trend is bearish on intraday chart, but if the pair manages to stay above wave B, an interesting technical bounce is possible. Looking at the 1H chart we have a resistance area (Target 1) around 1,060/1,063, here the pair could form a bearish harmonic structure (see chart below). If the pair triggers wave A breakout, the harmonic will fail and the swing will take the shape of an ABC Pattern.

HARMONIC RISK
snapshot

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Note
🔴 Trend is still bearish
Trade closed: target reached
✅ Target1 | Resistance Area
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Note
🔴 Swing is still bullish
Trade closed: target reached
✅ After clearing the harmonic risk, the pair successfully reached our Target 2. Congratulations everyone!
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snapshot
Trade closed: target reached
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Chart PatternsHarmonic PatternsWave Analysis
TheAnonymousBanker
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