My analysis on EU monthly timeframe

FX:EURUSD   Euro / U.S. Dollar
172 3 9
Looking a the previous structure formation, currently it is testing the previous consolidation state and also crossed the 61.8 fib level. It will test the 1.04696 support again and if breaks could possibly go to 161.8 if not, it has to break the downtrend and continue move up.

Guys let me know if anyone agrees to this.
Comment: as mentioned the downtrend continues
Hi, try to set 0.0% at the resistance on close-open candlestick prices on top, and it might turn out that 61.8 fib level is still being tested now (with the last-Friday drop down). What if (in Scenario 2) we may test again 23.6 fib level? ;-) Cheers
x381966011250105 x381966011250105
Maybe if you do so, you should also correct in the same way the 100.0 fib level. The picture might get slightly different..
qureshi009 x381966011250105
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