FxWirePro: EUR/USD forms Bearish Shark pattern, good to sell on rallies
Harmonic Pattern formed- Bearish Shark pattern. Potential Reversal Zone (PRZ) - 1.06300 EURUSD got a renewed buying interest at lower levels around 1.04960.the pair broken 1.06000 handle and jumped till 1.06235.It has cl…
EURUSD got a renewed buying interest at lower levels around 1.04960.the pair broken 1.06000 handle and jumped till 1.06235.It has closed around 1.06005.
The pair’s further jump will happen only above 1.06800 level. Any break above 1.06800 will take the pair till 1.07200/1.07450 level.
On the lower side, major support is around 1.04900 short term low formed at Feb 22nd 2017. Any break below confirms further bearish continuation and any break below targets 1.04500/1.03400. The minor support is around 1.05800/1.05200.
It is good to sell on rallies around 1.06050-1.0610 with SL around 1.0650 for the TP of 1.0520/1.04960
