InvestMate|EUR/USD Clear signal for declines๐ถ๐ต
๐ถ๐ตEUR/USD Clear signal for declines
๐ถ๐ตRecently I come to you with the most important forex pair i.e. EUR/USD
๐ถ๐ตYou can see that what I wrote in previous posts about possible declines today came true.
๐ถ๐ตWe started with the price going up around the recent peaks then we scored a solid slide below the opening.
๐ถ๐ตLooking at the shape of the candle, it is not difficult to agree that it isn't the best harbinger of future increases, quite the opposite.
๐ถ๐ตAfter an in-depth analysis and the determination of new support and resistance zones on the basis of fibo measures that I guided based on the biggest waves since the beginning of the quotation of this pair.
๐ถ๐ตI would like to start with the resistance zone, which was determined based on the fibo level of 0.382 of the entire downward wave from 1992 to the 2000 bottom. It is also worth taking into account that these are the places of the peaks of the current impulse.
๐ถ๐ตSupport zones have also been redrawn.
๐ถ๐ตThe first based on the fibo level of 0.786 of the entire downward wave from the 1980 peak to the 1985 low.
๐ถ๐ตThe second lower support zone has been redrawn based on the 0.236 level of the upward wave from 1972 to the 1980 peak. It can also be seen that the level has been repeatedly respected from both sides.
๐ถ๐ตThis second resistance zone I currently see as more likely due to the fact that we were still in a downtrend for almost 2 years now and I don't think the desire to reverse the trend will be let go so easily without major corrections along the way.
๐ถ๐ตThe scenario I am playing out is a continuation of the downtrend started today to reach the lower support zone where there is also parity. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ถ๐ต *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
๐If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.๐
๐ถ๐ตRecently I come to you with the most important forex pair i.e. EUR/USD
๐ถ๐ตYou can see that what I wrote in previous posts about possible declines today came true.
๐ถ๐ตWe started with the price going up around the recent peaks then we scored a solid slide below the opening.
๐ถ๐ตLooking at the shape of the candle, it is not difficult to agree that it isn't the best harbinger of future increases, quite the opposite.
๐ถ๐ตAfter an in-depth analysis and the determination of new support and resistance zones on the basis of fibo measures that I guided based on the biggest waves since the beginning of the quotation of this pair.
๐ถ๐ตI would like to start with the resistance zone, which was determined based on the fibo level of 0.382 of the entire downward wave from 1992 to the 2000 bottom. It is also worth taking into account that these are the places of the peaks of the current impulse.
๐ถ๐ตSupport zones have also been redrawn.
๐ถ๐ตThe first based on the fibo level of 0.786 of the entire downward wave from the 1980 peak to the 1985 low.
๐ถ๐ตThe second lower support zone has been redrawn based on the 0.236 level of the upward wave from 1972 to the 1980 peak. It can also be seen that the level has been repeatedly respected from both sides.
๐ถ๐ตThis second resistance zone I currently see as more likely due to the fact that we were still in a downtrend for almost 2 years now and I don't think the desire to reverse the trend will be let go so easily without major corrections along the way.
๐ถ๐ตThe scenario I am playing out is a continuation of the downtrend started today to reach the lower support zone where there is also parity. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ถ๐ต *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
๐If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.๐
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