Harmonic Pattern formed – Bullish Gartley pattern
Bullish AB=CD pattern
Potential Reversal zone- 1.05168
EUR/USD has formed bullish Gartley pattern in the daily chart. The pair breaks major pschycological support at 1.0700 and declined till 1.0666 yesterday. It is currently trading around 1.06896.
The major support is around 1.06300 (161.8% retracement of 1.09115 and 1.13663) and any break below confirms further weakness, a decline till 1.0600/1.0560/1.0520 is possible.
On the higher side, any break above 1.0780 (5- day MA) will take the pair till 1.0820/1.08500 in the short term.
It is good to buy on dips around 1.0635 with SL around 1.0590 for the TP of 1.0775/1.0845
Bullish AB=CD pattern
Potential Reversal zone- 1.05168
EUR/USD has formed bullish Gartley pattern in the daily chart. The pair breaks major pschycological support at 1.0700 and declined till 1.0666 yesterday. It is currently trading around 1.06896.
The major support is around 1.06300 (161.8% retracement of 1.09115 and 1.13663) and any break below confirms further weakness, a decline till 1.0600/1.0560/1.0520 is possible.
On the higher side, any break above 1.0780 (5- day MA) will take the pair till 1.0820/1.08500 in the short term.
It is good to buy on dips around 1.0635 with SL around 1.0590 for the TP of 1.0775/1.0845