Pattern Formed – Bearish AB= CD Pattern
Potential reversal Zone -1.0550
EUR/USD is trading between 1.04936 and 1.06306 for the past three trading session. It is currently trading around 1.05903.
The potential AB=CD pattern may be completed at 1.05540 level. On the lower side, major support is around 1.05200 and any break below will drag the pair down till 1.04935 (Feb 22nd 2017 low)/1.04500.
On the higher side, 1.06035 will be acting as minor resistance and any break above targets 1.06305/1.06790 level.
Short term bearish invalidation only above 1.06800.
It is good to buy on dips around 1.0555 with SL around 1.05150 for the TP of 1.06030/1.0630.
Potential reversal Zone -1.0550
EUR/USD is trading between 1.04936 and 1.06306 for the past three trading session. It is currently trading around 1.05903.
The potential AB=CD pattern may be completed at 1.05540 level. On the lower side, major support is around 1.05200 and any break below will drag the pair down till 1.04935 (Feb 22nd 2017 low)/1.04500.
On the higher side, 1.06035 will be acting as minor resistance and any break above targets 1.06305/1.06790 level.
Short term bearish invalidation only above 1.06800.
It is good to buy on dips around 1.0555 with SL around 1.05150 for the TP of 1.06030/1.0630.