EURUSD 1M MA200 rejection kickstarted 1 year Bear Cycle.The EURUSD pair is currently on its 2nd straight red 1M candle following September's rejection near the 1M MA200 (orange trend-line). That level is of the utmost importance as since January 2018 it has kickstarted the last two major Bearish Legs of the 10-year Channel Down.
Both of those legs hit at least the Channel's 0.618 Fibonacci level and on a remarkable display of symmetry, their candles that hit that level completed a -15.25% decline from their respective tops.
As a result, we expect 2026 to be a new Bearish Leg that will could hit at least 1.0300 upon making contact with the 0.618 Fib.
Notice also the excellent Support and Resistance Zones of the 1M RSI. The market hit the Resistance Zone on June's High and since then it's been declining on a Bearish Divergence. Both previous Channel Down tops have been priced when the 1M RSI hit and got rejected on this Resistance Zone.
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