EURUSD : This also applies to BTCUSD

EURO / U.S. DOLLAR FX_IDC:EURUSD

i_am_siew

The 'trendline' had spoken, but what about the harmonic pattern?

I do NOT believe in trendlines, so the reason for me is that price reacts to 1.1292 because of something else. However, reacting to this is a very strong indication of price weakness.

Now price is at B:
a) If price bounces from B, it would likely move to 1.0835
b) If price bounces from C, it would likely retest D

Do also take note of bond yield which is a bit crazy nowadays. This is likely a test for the $. The US30Y is near 5% - if it goes above 5.25%, then we can expect something to break. $ would be at risk.

Good luck.

source https://www.tradingview.com/chart/EURUSD/fZ28XVDg-EURUSD-This-also-applies-to-BTCUSD/