From a technical point of view, the trend is bearish on intraday chart, but if the pair manages to stay above wave B, an interesting technical bounce is possible. Looking at the 1H chart we have a resistance area (Target 1) around 1,060/1,063, here the pair could form a bearish harmonic structure (see chart below). If the pair triggers wave A breakout, the harmonic will fail and the swing will take the shape of an ABC Pattern.
HARMONIC RISK
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HARMONIC RISK
Trade with care
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Note
🔴 Trend is still bearishTrade closed: target reached
✅ Target1 | Resistance AreaNote
🔴 Swing is still bullishTrade closed: target reached
✅ After clearing the harmonic risk, the pair successfully reached our Target 2. Congratulations everyone!For new updates, visit our website.
Trade closed: target reached
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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.