hodoman

hodoman

Resistance around 1.58 rejected Bearish Shark formation and retracement to 0.886 level of XA leg completed

hodoman

Short-term - EUR/USD may turn bearish around 1.09 only to complete this bearish butterfly afterwards. Please note that point C could go as low as 1.056 and the pattern would still be valid.

hodoman

1st target - .382 retracement of CD and 2nd target - .618 retracement

hodoman

If it closes above the neckline, then we have a clear break of the resistance around 1.505 and a break of the neckline of the head and shoulders formation.

hodoman

If this bearish Cypher pattern is formed, we have a good short opportunity which would also provide a good positive swap. Weekly trend is also bearish. For more details on Cypher patterns, see Nico_Muselle's related idea below

hodoman

I think we have a nice bullish bat pattern. SL and TP targets on the chart.

hodoman

If the support @1.083 is confirmed, I see a possible long trade targeting 1.12

hodoman

Details on the chart