FxWirePro: EUR/USD Forms Bearish Gartley Pattern, Good to Sell on Rallies
1 June 2016, 15:28
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FxWirePro: EUR/USD Forms Bearish Gartley Pattern, Good to Sell on Rallies
- Harmonic pattern Formed- Bearish Gartley pattern
- Potential Reversal Zone (PRZ) - 1.12168
- EUR/USD has recovered from the low of 1.1140 made today morning till 1.11797 at the time of writing. It is trading around 1.11700.
- Euro’s resistance is around 1.11925 (78.6% retracement level of 1.12168 and 1.110980) and violation above 1.11925 will take the pair till 1.12168/1.12425.
- On the lower side minor support is around 1.1150 and break below targets 1.1100 (200 day MA)/1.1050.
It is good to sell on rallies around 1.1185-1.1190 with SL around 1.1220 for the TP of 1.1100/1.1050
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