FxWirePro:EUR/USD forms Bearish pattern, good to sell on rallies
Pattern Formed - Bearish AB=CD. Potential Reversal Zone (PRZ) – 1.07350 The pair breaks the major resistance at 1.0685 and jumped till 1.07196 yesterday. It is currently trading around 1.06800. The bearish AB=CD pattern …
The pair breaks the major resistance at 1.0685 and jumped till 1.07196 yesterday. It is currently trading around 1.06800.
The bearish AB=CD pattern in EURUSD is expected to complete at 1.07345 level. It is the potential reversal Zone.
Any break above 1.07350 will take the pair to next level till 1.07500/1.0800 level.
On the lower side, support is at 1.06500 and any break below will drag the pair till 1.06090/1.05790 (7- day MA)/1.05190 (20- day MA).
It is good to sell on rallies around 1.07350 with SL around 1.0800 for the TP of 1.0600/1.05190
