themarketzone

Bearish Harmonic Pattern - Pullback before continuation

FX:AUDCHF   Australian Dollar/Swiss Franc
Last week $AUDCHF completed a bearish Gartley pattern near 0.735.
Despite a spike higher, the pattern wasn't violated and an Outside Bar added to the potential reversal patterns shown in this daily chart .
The price closed below its daily downtrend line.
0.75 is the nearest daily resistance zone
0.725 is the nearest daily support zone
0.7 is a weekly support zone

Bearish scenario - Short as long as $EURAUD remains below 0.75 (latest spike). Wait for a bullish pullback to re-test broken trend line near 0.75.

Bullish scenarios - 0.725 (weak) and 0.71 (strong) are two potential buy zones.

Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week http://goo.gl/c8og8B

To subscribe to the newsletters - http://goo.gl/HXjCPV
Follow my blog - http://goo.gl/78KZsl
Subscribe to my Youtube channel - https://goo.gl/q8dbyT


Weekly Newsletter - https://goo.gl/yzkFY6

Tomer J,
The Market Zone - You trading Edge
Visit my website - http://www.themarketzone.net/
Blog - http://www.themarketzone.net/?page_id=2371
Youtube - https://www.youtube.com/c/TheMarketZoneNet
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out