EUR/USD Market Analysis – Bearish Reversal from Key Resistance
The EUR/USD pair has formed a bearish Bat harmonic pattern, completing near the 0.886 Fibonacci retracement level. Price action has reacted strongly at this resistance, indicating a potential reversal. The first target (T1) is around 1.0394, while the second target (T2) is near 1.0325, aligning with key Fibonacci levels. If the resistance holds, a bearish move towards these targets is likely. However, a sustained break above the high may invalidate the bearish setup. Traders should monitor price action closely for confirmation.
Trade closed: target reached
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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.