(4h) Things may change below that daily fractal support! $eurusd

OANDA:EURUSD   Euro / U.S. Dollar
Comment: Caution with longs at trendline resistance
Comment: .Bearish crab pattern completed and suggesting the retracement;

.Defaul targets for the crab pattern now projected at the weekly and daily fractal resistance (the 38% fib retracement level representing a fall of 1.46% / 163 pips from the most recent 4h fractal resistance printed at 1.11961);

.Wave 4 needs to find support above the weekly/daily resistance levels - the recovering of those fractals will invalidate the possibility of a 5 waves structure;

.IF Wave 5 equals wave 1 = 1.12669;

Comment: Inverted head and shoulders default target reached at 200% fib extension.