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Short

EURUSD: Potential BAT pattern

FX:EURUSD   Euro/U.S. Dollar
249 0 7
Pattern Formed - Bearish BAT pattern

Major resistance- 1.06855

The pair has once again recovered after making a low of 1.05635. EUR/USD             jumped till 1.0660 and slightly declined from that level. It is currently trading around 1.06325.

On the higher side, major resistance is around 1.06850 and any violation above will take the pair to next level till 1.07550 ( 78.6% retracement of 1.08167 and 1.05320)/1.08167 (Nov 15th high).

The pair immediate support stands at 1.05600 and any indicative break below will drag the pair down till 1.05180/1.0436 (161.8% retracement of 1.05320 and 1.06855).

Short term trend reversal only above 1.08200.

It is good to sell on rallies around 1.0675-1.0680 with SL around 1.07550 for the TP of
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