The EURUSD pair has been trading within a Channel Up since June and following the January 27 2026 Higher High rejection on an overbought 1D RSI, it started its latest Bearish Leg.
Yesterday's rise resembles the Lower High that both previous Bearish Legs had (orange circles) before they resumed the downtrend to the bottom of the Channel Up and the 0.786 Fibonacci retracement level.
As a result, our short-term Target is 1.16850, which will make a 1D MA200 (orange trend-line) test as well. If the 1D RSI hits its Support Zone earlier, book the profit regardless.
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Yesterday's rise resembles the Lower High that both previous Bearish Legs had (orange circles) before they resumed the downtrend to the bottom of the Channel Up and the 0.786 Fibonacci retracement level.
As a result, our short-term Target is 1.16850, which will make a 1D MA200 (orange trend-line) test as well. If the 1D RSI hits its Support Zone earlier, book the profit regardless.
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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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🔥My Account Management (+20% monthly target for $30k+ accounts)
Contact: info@tradingshot.com | t.me/tradingshot
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Trade directly from TradingView with fixed spreads & zero commissions.
Broker I personally use👉 tradingshot.short.gy/TradeNation
🔥My Account Management (+20% monthly target for $30k+ accounts)
Contact: info@tradingshot.com | t.me/tradingshot
Broker I personally use👉 tradingshot.short.gy/TradeNation
🔥My Account Management (+20% monthly target for $30k+ accounts)
Contact: info@tradingshot.com | t.me/tradingshot
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.