EUR/USD situation

Now its time for the most popular EUR/USD

Firstly wider look on this pair. I will do it step by step.

So D1:

There is no doubt  we had down trend.

Now its simple ABC correction (it can be something bigger but lets look on what its "closer" to us)

There was A, B now it should be C.

Only Fibo on this screen is last wave down retrace and now price is around 61,8% of it.

Lets go further:

Here its is close look on just AB - possible C formation. 3 Fibo are - A wave projection from B. And 100% (most probable) is on 100% zone.
Next Fibo is reverse projection of wave B - 127,2 is in blue zone and its typical level.
There is also outside projection of wave A and 127,2% is also in blue zone.

So lets conclude: there are not 4 fibo (61,8% of D1 retrace also) levels.

Lets move to H4 leaving blue zone:

There is 3 waves move (it can be abc, or 123) but price stoped almost to pips in 161,8% of wave A from B projectio - what is most typical for wave 3 - but also for wave C. There is another level 161,8% for outside projection of wave A - but bottom of wave B is so close to wave A begin that is should looks like that.


Conclude - EUR/USD is in very strong resistance now. I have already yesterday USA session opened short but I closed it after Momentum made reverse. Now I'm just looking on H1 momentum short signal and open position,