EURUSD is completing a 5 wave move up on the daily chart and now it is facing a strong resistance zone that begins at 1.2717-1.2600 that corresponds to weekly fib.ret 38.2% and Daily fib.ret 61.8%. Also on this zone we are too near the resistance trend line that is coming from the top and after 1.2600 price there is also a strong structure zone coming from the left. We have divergences and also we can see the development of a crag pattern that can finish on the first resistance zone as an Alternate Bearish BAT pattern or we can see its completion at 1.2710. Setup will be invalidated if the resistance trend line will be broken.
Good luck!
Komen
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Weekly chart.
Komen
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Daily chart
Komen
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Price made a nice fall almost 290 pips and now is finding support in the orange box. We can see a strong support from 200 EMA on 240 min chart, 78.6% fib.ret and also the left structure. So i am expecting for a correction before the big fall. If price will continue with the downside then it needs to break the orange box in order to confirm a stronger down move.