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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