EUR/USD Bearish 1-2-3 Pattern

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The EUR/USD is rejecting from 78.6 fib. We should see a move down below W L3.

The market is still bearish. 78.6 is the main rejection point. We can also see the 1-2-3 pattern. Bears are strong and the pair is trying to push below 1.1315. 1.1300 is the first target. Below 1.1300, market momentum will turn more bearish and 1.1280-60 should be next. This is the “sell the rallies” scenario.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of