EURUSD - Daily chart analysis
Updated
hello.
as of Friday's candle closed below the trend line we can expect the continuation of bearish movement. if today's candle closes below the trend line again we can strongly assume that the bearish move isn't over. so the targets I marked on the chart are all based on harmonic patterns not support& resistance level, however as you can see they have convergence with each other.
the harmonic patterns to complete are nen-star and shark. but I'll get to those in the upcoming days.
the alternative scenario is that today's candle closes above the trend line and makes it a reversal engulf candle, then the likelihood of a 3 drive pattern will be stronger. if this scenario happens, I'll share my ideas about the pair's targets.
as of Friday's candle closed below the trend line we can expect the continuation of bearish movement. if today's candle closes below the trend line again we can strongly assume that the bearish move isn't over. so the targets I marked on the chart are all based on harmonic patterns not support& resistance level, however as you can see they have convergence with each other.
the harmonic patterns to complete are nen-star and shark. but I'll get to those in the upcoming days.
the alternative scenario is that today's candle closes above the trend line and makes it a reversal engulf candle, then the likelihood of a 3 drive pattern will be stronger. if this scenario happens, I'll share my ideas about the pair's targets.
Trade closed: target reached
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