FxWirePro: EUR/USD forms Bullish BAT Pattern, good to buy on dips
Harmonic pattern formed: Bullish Bat pattern Potential Reversal Zone (PRZ)- 1.05850 EUR/USD bullish Bat pattern is expected to get completed at 1.06155 which his 88.6% retracement of 1.05891 and 1.08288 level. On the low…
EUR/USD bullish Bat pattern is expected to get completed at 1.06155 which his 88.6% retracement of 1.05891 and 1.08288 level.
On the lower side, 1.05891 will be acting as major support and any minor weakness can be seen only below that level. Any break below 1.0585 will drag the pair till 1.0500/1.04500 (Jan 11th 2017 low).
The major resistance is the top formed at 1.08735 and short term bearish invalidation only above that level. Any violation above 1.08735 confirms short term bullishness and jump till 1.09335 (61.8% retracement of 1.12994 and 1.03402).
It is good to buy on dips around 1.0645 with SL around 1.05850 for the TP of 1.0745/1.0800.
