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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 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
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