💶💵EUR/USD Clear signal for declines
💶💵Recently I come to you with the most important forex pair i.e. EUR/USD
💶💵You can see that what I wrote in previous posts about possible declines today came true.
💶💵We started with the price going up around the recent peaks then we scored a solid slide below the opening.
💶💵Looking 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.
💶💵After 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.
💶💵I 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.
💶💵Support zones have also been redrawn.
💶💵The first based on the fibo level of 0.786 of the entire downward wave from the 1980 peak to the 1985 low.
💶💵The 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.
💶💵This 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.
💶💵The 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.
💶💵 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
💶💵Recently I come to you with the most important forex pair i.e. EUR/USD
💶💵You can see that what I wrote in previous posts about possible declines today came true.
💶💵We started with the price going up around the recent peaks then we scored a solid slide below the opening.
💶💵Looking 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.
💶💵After 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.
💶💵I 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.
💶💵Support zones have also been redrawn.
💶💵The first based on the fibo level of 0.786 of the entire downward wave from the 1980 peak to the 1985 low.
💶💵The 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.
💶💵This 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.
💶💵The 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.
💶💵 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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