Technical analysis of EURUSD monthly time: 25.2.2023
We can see that after reacting to the 50 fibo range, we had a resistance zone in B pattern crossing it, now we are exactly on a resistance zone in the range of 1.05420, which in case of failure can be two targets in the ranges of 1.03799 and 1. 01716 based on pivot points. There is no need to touch both.
In general, the goal of the harmonic pattern can be reconsidered, but we must not forget that the resistance of the X range of the pattern is within the range of the two specified targets and can prevent further reduction.
We can see that after reacting to the 50 fibo range, we had a resistance zone in B pattern crossing it, now we are exactly on a resistance zone in the range of 1.05420, which in case of failure can be two targets in the ranges of 1.03799 and 1. 01716 based on pivot points. There is no need to touch both.
In general, the goal of the harmonic pattern can be reconsidered, but we must not forget that the resistance of the X range of the pattern is within the range of the two specified targets and can prevent further reduction.
