FxWirePro:EUR/USD forms Bearish Gartley pattern, good to sell on rallies
Harmonic pattern formed – Bearish Gartley pattern Potential Reversal Zone (PRZ) - 1.06330 EUR/USD formed a minor bottom around 1.04938 on 22nd Feb 2017 and recovered sharply from that level . The pair breaks slightly abo…
EUR/USD formed a minor bottom around 1.04938 on 22nd Feb 2017 and recovered sharply from that level . The pair breaks slightly above 1.06000 handle and started to decline after making the high of 1.06039 at the time of writing.
Intraday trend is slightly weak as long as resistance 1.06800 holds. Any violation above 1.0680 will take the pair till 1.07200/1.0745/1.0800. Short term bearish invalidation only above 1.08735 levels.
On the lower side, any break below the low made on Feb 22nd at 1.04938 will drag the pair down till 1.04550/1.03450.
It is good to sell on rallies around 1.05850-1.0590 with SL around 1.06340 for the TP of 1.05200/1.0455
