The EURUSD pair is currently on its 2nd straight red 1M candle following September's rejection near the 1M MA200 (orange trend-line). That level is of the utmost importance as since January 2018 it has kickstarted the last two major Bearish Legs of the 10-year Channel Down.
Both of those legs hit at least the Channel's 0.618 Fibonacci level and on a remarkable display of symmetry, their candles that hit that level completed a -15.25% decline from their respective tops.
As a result, we expect 2026 to be a new Bearish Leg that will could hit at least 1.0300 upon making contact with the 0.618 Fib.
Notice also the excellent Support and Resistance Zones of the 1M RSI. The market hit the Resistance Zone on June's High and since then it's been declining on a Bearish Divergence. Both previous Channel Down tops have been priced when the 1M RSI hit and got rejected on this Resistance Zone.
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Both of those legs hit at least the Channel's 0.618 Fibonacci level and on a remarkable display of symmetry, their candles that hit that level completed a -15.25% decline from their respective tops.
As a result, we expect 2026 to be a new Bearish Leg that will could hit at least 1.0300 upon making contact with the 0.618 Fib.
Notice also the excellent Support and Resistance Zones of the 1M RSI. The market hit the Resistance Zone on June's High and since then it's been declining on a Bearish Divergence. Both previous Channel Down tops have been priced when the 1M RSI hit and got rejected on this Resistance Zone.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.