EURUSD Analysis==>>Reversal Patterns

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EURUSD is moving in the Resistance zone($1.0920-$1.0870) and near the Resistance lines.

If we want to analyze the EURUSD chart from the point of view of Classical Technical Analysis, two Reversal Patterns are clearly visible: Head and Shoulders Pattern&Bump-and-Run Top Pattern.
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Educational tip:👇

The Bump-and-Run Reversal Top Pattern forms when, after a gentle upward trend, a more aggressive one appears on the chart. The price pivots at the peak and then falls like an avalanche.

In this scenario, only professional traders survive and thrive with considerable portfolio gains. In the following section, I will teach you how to make money when there’s blood in the snow!

This pattern forms when the price rallies too far up. People second-guess themselves buying at such high prices while sellers sell confidently, causing a downward trend. This means you can see a clear reversal in the Bump-and-Run Reversal Top Pattern. Although this pattern is considered a single entity, it consists of three separate parts or phases:

1) Normal and steady trend, called the “Lead-in Phase.” Imagine it as walking up a mountain.

2) Market participants going crazy with greed, called the “Bump Phase.” You can imagine this one as an ascent to the mountain’s peak.

3) The price falling and causing bloodshed of candles, called the “Run Phase.” At last, you ski down the snow, collecting profits on your way.

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According to Elliott's wave theory, EURUSD seems to have successfully completed five impulse waves.

Also, we can see Regular Divergence(RD-) between two Consecutive Peaks.

After breaking the support trend line and Neckline, I expect EURUSD to fall at least to the Support zone($1.0820-$1.0776).

Euro/U.S.Dollar Analyze ( EURUSD), 1-hour Time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

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We should probably wait for a pullback and then continue the downward trend of EURUSD
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Running well, you can risk free your position or take profit.
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