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FxWirePro: EUR/USD forms bearish Gartley pattern, good to sell on rallies

Wednesday, June 1, 2016 12:17 PM UTC

Harmonic pattern Formed- Bearish Gartley pattern
Potential Reversal Zone (PRZ) - 1.12168
EUR/USD has recovered from the low of 1.1140 made today morning till 1.11797 at the time of writing. It is trading around 1.11770.
Euro’s resistance is around 1.11925 (78.6% retracement level of 1.12168 and 1.110980) and violation above 1.11925 will take the pair till 1.12168/1.12425.
On the lower side minor support is around 1.1150 and break below targets 1.1100 (200 day MA)/1.1050.

It is good to sell on rallies around 1.1185-1.1190 with SL around 1.1220 for the TP of 1.1100/1.1050

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FxWirePro: EUR/USD forms bearish Gartley pattern, good to sell on rallies

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