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Short

EUR/USD forms Bearish BAT Pattern, good to sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
510 0 10
Harmonic Pattern Formed – Bearish BAT pattern

Potential Reversal Zone (PRZ) – 1.1340

The pair has retreated after making a high of 1.1340. It is currently trading around 1.12598.

On the lower side major support is around 1.1250 and break below targets 1.1180/1.1100/1.1050 level.

The pair’s further bullishness can be seen only above 1.1340 and break above targets 1.1385/1.1430.

The minor resistance is around 1.1280/1.1325.

It is good to sell on rallies around 1.1285-1.1290 with SL around 1.1350 for the TP of 1.1180/1.1100/1.1050
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