FX:EURUSD Euro Fx/U.S. Dollar
This is a Long term trade but ofcourse shorter even intraday trades could be taken, in that case target the bottom of the , the diagonal resistance line (white line) is very strong, we also have a confluense of the 38,2 retracement level, we can see that this line is going into the pattern and therefore hindering price to make a higher high, this will be seen as weakness, and the pattern is , we also have a confluence of the high, A, another thing supporting this idea is that, the bottom where this starts, is not a fibonacci level, in fact, the is in between the 50% and 61,8% fibonacci levels. the market allways reverse at one of those levels, it have allways done so, wich favour a huge move down to the 61.8% as the first target, (not on chart) thereafter for the final target, is the lower at weekly, we have the , the downtrend is strong. should be a high probability trade. good luck!