Hi guys,
i've already analyzed this pair last week, and the big picture still remains the same (analysis attached below). That's why i'm still looking to short this market around the heights of 1.21. This is a strong resistance and could provide a wall to price action's rally. This time, instead of a double top, we can see there's an harmonic formation, in the form of a Bat pattern, that's about to complete at the blue line level. I'm going to short it, with stops above X, and targets as usual for harmonic patterns.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
i've already analyzed this pair last week, and the big picture still remains the same (analysis attached below). That's why i'm still looking to short this market around the heights of 1.21. This is a strong resistance and could provide a wall to price action's rally. This time, instead of a double top, we can see there's an harmonic formation, in the form of a Bat pattern, that's about to complete at the blue line level. I'm going to short it, with stops above X, and targets as usual for harmonic patterns.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
