EUR/USD: ADVANCED HARMONIC PATTERN STUDIO IN H4 | NEW CYPHER

14 set 2021

Good morning Traders, today we do the analysis of the EUR/USD exchange rate in H4 time frame analyzing the formation of the advanced patterns of Fibonacci technical analysis, the Harmonic patterns. In previous Ideas I have shown how our Idea on the EURO is on the downside, and the price in recent sessions It has reacted very well to the formation of the Bearish SHARK Pattern. Since yesterday the price has started a normal retracement that according to our forecast is preparatory for a new decline. Just in the last few hours another harmonic figure has formed in the Time frame H4, a Bearish Cypher. We have plotted in the chart its reversal zone and the stop loss fixed by the manual at the reverse 1.13 Fibo retracement. Should the price continue to rise, our entry level will be at 78.6% fibo with SL at 1.13%.