themarketzone

Probably heading towards Gartley completion near 1.07

FX:EURUSD   Euro/U.S. Dollar
The bad news we see coming from the Euro             Zone could have bearish impact on $EURUSD that will push it below the 50 SMA line and towards 1.1 and 1.07 which are my next target zones for the bearish C sell setup I published here few weeks ago.
Near 1.07, $EURUSD will complete a bullish pattern but is it going to be enough to keep it from reaching 1.0??
The next week will be crucial for EURUSD             as the Greek saga reached its peak.

The bearish AB=CD is still a valid option - at least as long as the price remains above 1.08. If the price will stay above this level, it could potentially rally towards 1.18 to complete the bearish AB=CD


This setup is part of the Weekly Markets Analysis this week - http://marketzone.tumblr.com/post/122669685060/the-weekly-markets-analysis-the-peak-of-the
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