EUR/USD: Is History Repeating? Key Levels to Watch Now
Hey Realistic Traders, Will 
EURUSD Repeat its Bearish Cycle? Let’s dive into the analysis...
On the H4 chart, EUR/USD is trading below the 200-day EMA once again, signaling that the bearish trend is still in play. This downward movement has been reinforced by a rising wedge breakout, a common pattern that often leads to further declines.
Just a few days ago, we spotted a similar bearish breakout inEURUSD, which resulted in a continued drop. As traders, we follow the Dow Theory principle: "History Repeats Itself." Based on this idea, we expect the price to follow the same pattern, keeping the bearish momentum intact.
Looking ahead, EUR/USD could move lower toward the first target at 1.02861 and, if selling pressure continues, potentially reach the second target at 1.02205. These targets are based on previous price movements and key historical support levels.
However, this bearish scenario depends on the price staying below the critical stop-loss level at Stop Loss 1.05039
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
Disclaimer: “Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position onEURUSD ”.
EURUSD Repeat its Bearish Cycle? Let’s dive into the analysis...On the H4 chart, EUR/USD is trading below the 200-day EMA once again, signaling that the bearish trend is still in play. This downward movement has been reinforced by a rising wedge breakout, a common pattern that often leads to further declines.
Just a few days ago, we spotted a similar bearish breakout in
EURUSD, which resulted in a continued drop. As traders, we follow the Dow Theory principle: "History Repeats Itself." Based on this idea, we expect the price to follow the same pattern, keeping the bearish momentum intact.Looking ahead, EUR/USD could move lower toward the first target at 1.02861 and, if selling pressure continues, potentially reach the second target at 1.02205. These targets are based on previous price movements and key historical support levels.
However, this bearish scenario depends on the price staying below the critical stop-loss level at Stop Loss 1.05039
Support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below.
Disclaimer: “Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on
EURUSD ”.Trade active
double top breakout as confirmation of the bearish trend
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Related publications
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.