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- Pattern Formed – Bearish AB=CD pattern
- Potential Reversal Zone (PRZ) 1.07850
- EURUSD continuing its bullish trend after FOMC meeting . The pair has jumped above 1.0700 and reached till 1.07824 at the time of writing.
- On the lower side, near term minor support is around 1.07500 and any break below will drag the pair down till 1.0703 (21- 4H EMA)/1.06700 (61.8% retracement of 1.05998 and 1.07825)/1.06000 (61.8% retracement of 1.04948 and 1.07825).
- The nearby resistance is around 1.07850 and any break above targets 1.08288 (Feb 2nd 1027 high)/1.08735. It should break above 1.08735 for bullish continuation.
It is good to sell on rallies around 1.07800-1.07825 with SL around 1.08230 for the TP of 1.06725
