Harmonic pattern- Classic AB=CD pattern
Potential Reversal Zone (PRZ) - 1.1240
As per the analysis, EURUSD has lost more than 100 pips from a high of 1.1240 on US-Iran escalation. The General Soleimani head of Iran's elite al-Quds was killed on US airstrikes at Baghdad's international airport. It hits an intraday low of 1.11250 and is currently trading around 1.11314.
Technically, near term support is around 1.1100 and any violation below will drag the pair down till 1.10600/1.10350.
On the higher side, resistance is at 1.1180 and indicative break above targets 1.1245/1.12880.
It is good to sell on rallies around 1.1150-55 with SL around 1.1180 for the TP of 1.1065.
