EURUSD The Fiber is currently testing multiple technical barriers, including the golden Fibonacci zone, channel resistance, and bearish harmonic patterns. A lower-degree double top has led to a potential bearish 2618 setup, suggesting short-term downside risk.
📉 Fractal Structure Zones
🔸 Daily fractal resistance (short-term): 1.1631
🔸 Weekly fractal resistance (mid-term): 1.1573
🔸 Intraday resistance (4H): 1.1569
🔸 Intraday support (4H): 1.1523
🔸 Daily fractal support: 1.1371
🔸 Monthly fractal resistance (long-term): 1.1213
🔸 Weekly fractal support: 1.1065
🔸 Monthly fractal support: 1.0177
A rejection below intraday support may validate the bearish setup, while a sustained break above daily resistance would question the harmonic scenario.
Happy Trading,
André Cardoso
Harmonic Patterns | Market Analyst | Forex Analytix | Porto, Portugal
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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.
Harmonic Patterns | Market Analyst | Forex Analytix | Porto, Portugal
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.