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FxWirePro: EUR/USD forms Bearish BAT pattern, good to sell on rallies

Harmonic Pattern - Bearish BAT pattern

Potential Reversal Zone (PRZ) -1.14365

  • EUR/USD has made a high of 1.14109 today and declined from that level. It is currently trading at 1. trend is still weak as long as resistance 1.14365 holds.
     
  • Any break above 1.14365 will take the pair till 1.1470/1.1500 level.
     
  • On the downside major support is around 1.13250 and break below will drag the pair down till 1.1260/1.1200.

It is good to sell on rallies around 1.1380-85 with SL around 1.14365 for  TP of 1.1260

 

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