This article has been translated from English to Gen Z Slang.
Yo, did you totally sleep on the head and shoulders serve on EUR/USD? 😴
No stress, fam. The pair might swing back to that OG support zone before making a full-on comeback! 🔄
Peep these retracement spots on the 4-hour chart ⏱️
EUR/USD: 4-hour
EUR/USD 4-hour Forex Chart by TradingView
Low key, the U.S. dollar is making a glow-up this week, 'cause safe-haven flow's been lit with all the drama popping off between Ukraine and Russia. 🌐🔥
After cruising in its bulls-only zone for most of August and September, EUR/USD dropped a head and shoulders remix and dipped under that neckline support, hinting that a major plot twist might be coming. 😲
Sooo, are we about to see EUR/USD flex on ‘em with more sellers on the pullback? 🤔
The pair is already sliding towards the 38.2% Fibonacci level, and might curve out and aim higher for the 50% Fib which is vibing near the old neckline and S1 (1.1690).Pro tip: Market vibes and hype are usually tied to fundamentals, fam. If you’ve been sleeping on the U.S. dollar and the euro, time to wake up and hit the economic calendar to peep that fresh daily tea!
If this is enough to cap the gains, keep your eyes peeled for a sell-off continuation towards the low key swing at S3 (1.1590) or hitting those fresh bearish goals at S4 (1.1550) then S5 (1.1510). 📉
The point of no return for this bearish scene might be the 61.8% mark near that 200 SMA pivot. Just remember, the 100 SMA keeps flexin’ above the 200 SMA, suggesting bulls might still be running this game. 💪📈
So, if those long green candle vibes close above your area, it means the euro fanbase might not be backing down that easily, continuing the glow-up to R1 (1.1790) or even reaching the next goals at R2 (1.1830) then R3 (1.1880). 🌟
No matter which vibe you ride with, make sure to keep your risk management on point and stay woke on those big daddy catalysts that could flip the market script! 🔄
Disclaimer:
Heads up! The technical analysis here is just FYI and for laughs. Don’t take it as trading advice or some dope prediction of market moves. Tech analysis is just one piece of your trading hustle. The setups we chat about might be what other traders are eyeing. All your trading moves, risk management game, and results are on YOU. Trade smart, fam! 🚫💡📈
