$EURUSD Reached Bearish Targets,Can Still Fall Much Further Down
Traders, EURUSD reached our bearish targets because of the M pattern. In fact market went much lower than that.
Now EURUSD can still fall much further down. If 1.2 level holds as a resistance then EUR is very likely to fall further down to 1.0416 as the intermediary target. Most probably the real target (as very quick one too 🙂 ) will be 1.02 level because that is where the real value FCP zone is.
Below is the timeline history of them since our last analysis:
1. Original Analysis: NOV 15 2021
2. Nov 17, 2021
EURUSD: reached the important FCP zone. It can bounce up from here. To take longs, wait for a good confirmation.
3. Nov 17, 2021
EURUSD: getting a bounce from the FCP zone and important level 🙂
4. Nov 22, 2021
EURUSD: Stop loss collection is in process. Gap is filled.A secondary confirmation is needed to add to long or start a new long. Watching DXY closely.
5. Jan 03, 2022
EURUSD weekly time frame now looks like this. It reacted to the zone late. As DXY is strong, it has not showed good reaction and it is more of a sideways action so far. It can still go higher if the conditions change as we are now above the FCP zone. But any weakness can bring it down close to the pre covid levels and gap which is left open;
6. Jan 28, 2022
EURUSD: waited around the FCP zone, filled a gap and pushed a little higher. It got rejected by 1.14211 level. Now it is moving towards a gap and a bigger M pattern around 1.1 level. Again, similar to DXY it can push back up to retest the previous structure.
7. EURUSD now: (March 17, 2022)
Now EURUSD can still fall much further down. If 1.2 level holds as a resistance then EUR is very likely to fall further down to 1.0416 as the intermediary target. Most probably the real target (as very quick one too 🙂 ) will be 1.02 level because that is where the real value FCP zone is.
Below is the timeline history of them since our last analysis:
1. Original Analysis: NOV 15 2021
2. Nov 17, 2021
EURUSD: reached the important FCP zone. It can bounce up from here. To take longs, wait for a good confirmation.
3. Nov 17, 2021
EURUSD: getting a bounce from the FCP zone and important level 🙂
4. Nov 22, 2021
EURUSD: Stop loss collection is in process. Gap is filled.A secondary confirmation is needed to add to long or start a new long. Watching DXY closely.
5. Jan 03, 2022
EURUSD weekly time frame now looks like this. It reacted to the zone late. As DXY is strong, it has not showed good reaction and it is more of a sideways action so far. It can still go higher if the conditions change as we are now above the FCP zone. But any weakness can bring it down close to the pre covid levels and gap which is left open;
6. Jan 28, 2022
EURUSD: waited around the FCP zone, filled a gap and pushed a little higher. It got rejected by 1.14211 level. Now it is moving towards a gap and a bigger M pattern around 1.1 level. Again, similar to DXY it can push back up to retest the previous structure.
7. EURUSD now: (March 17, 2022)
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