Last week (June 15, see chart below), we gave a strong Sell Signal for the EURUSD pair, right at the top of its 2-month Channel Down:
Our 1.14450 Target got hit fairly quickly and now the price tests exactly on the 3-month Support Zone. The situation is now transferred to the wider outlook and the 1W time-frame to get a better understanding of the long-term trend.
This is where EURUSD continues to replicate the early 2021 peak formation as we've shown in previous analyses. Following the 1M MA200 (red trend-line) rejection and subsequent break below the 1W MA50 (blue trend-line), the price now eyes the 1W MA200 (orange trend-line).
Based on that, we expect the pair to target 1.10700 on the medium-term, which is the May 12 2025 Low and the last strong Support before much lower levels.
In 2021 the break below the 1W MA50 initiated a brutal correction which in less than a year reached the Support of the last Low. That is currently at 1.01800 and that is our long-term Target.
It is worth checking the amazing time (as well as the obvious structural) similarities, with the distance from the January 13 2025 bottom to the recent April 13 2026 High (455 days) almost as long as the March 16 2020 - May 24 2021 (434 days).
Observe also how similar the 1W RSI patterns are between the two fractals. We are currently on the Arc Phase where it should find temporary support on the green zone and consolidate like it did within June - August 2021.
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Our 1.14450 Target got hit fairly quickly and now the price tests exactly on the 3-month Support Zone. The situation is now transferred to the wider outlook and the 1W time-frame to get a better understanding of the long-term trend.
This is where EURUSD continues to replicate the early 2021 peak formation as we've shown in previous analyses. Following the 1M MA200 (red trend-line) rejection and subsequent break below the 1W MA50 (blue trend-line), the price now eyes the 1W MA200 (orange trend-line).
Based on that, we expect the pair to target 1.10700 on the medium-term, which is the May 12 2025 Low and the last strong Support before much lower levels.
In 2021 the break below the 1W MA50 initiated a brutal correction which in less than a year reached the Support of the last Low. That is currently at 1.01800 and that is our long-term Target.
It is worth checking the amazing time (as well as the obvious structural) similarities, with the distance from the January 13 2025 bottom to the recent April 13 2026 High (455 days) almost as long as the March 16 2020 - May 24 2021 (434 days).
Observe also how similar the 1W RSI patterns are between the two fractals. We are currently on the Arc Phase where it should find temporary support on the green zone and consolidate like it did within June - August 2021.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.