EUR/USD forms bullish gartley pattern, targets 1.1340

FX:EURUSD   Euro Fx/U.S. Dollar
2151 8 20
Harmonic pattern- Bullish Gartley pattern

Potential reversal Zone (PRZ)- 1.1200

EURUSD             has formed bullish gartley pattern in hourly chart and it is good to buy at dips .

On the higher side pair’s major resistance is around 1.1340 and any break above would extend gains till 1.1370/1.14360 in short term.

The pair’s major support is around 1.1200 and any break below will drag the pair further down till 1.1178/1.1150.

Bullish invalidation only below 1.1140 level.

It is good to buy at dips around 1.12150-220 with SL around 1.1150 for the TP of 1.1318/1.1335.
Failed pattern. Do u expect a reverse at this 1.1100 zone or a continued fall?
Yeap, it looks like there will be a lot buyers at that level
The Draghi-hammer! Former analysis is abundantly valid!
The Draghi-hammer! Former analysis is abundantly valid!: There is nothing more to add! The Pair is bearish furthermore!

former Analysis:
Longterm View: LongTerm Swing-Dynamic vs. MidTerm Bearish Flag
When we have a look at the longterm Chart we see a clear and very wide downchannel. At the beginning of 2015 we have kissed the downtrend channels bottom @ 1,04. From that Level on we started a Rebound nearly till the Minimum correction fibo (38,2) . here is also based the EMA 200 as a resist.
Now the Pair is forming a bearish flag! (blue). This bearish flag will generate a TP at the downside @ below the parity @ 0,965 if it will be triggered.

The cyclical /-or longterm swingview will generate a longterm tp @ the downtrendchannels upper edge @ 1,33! ( Magenta "3"?). On it s way up to that cyclical target several resist zones are based:
-EMA 200: 1,135
-0,38 fibo: 1,18
-0,5 fibo: 1,22
-0,618 fibo: 1,26
-Resistance tone formed of former lows between 1,2-1,25

Last but not least - here is the pullback!
Last but not least - here is the pullback!

These days we have seen an overshooting market. The Pair seemed to beat it s strong resistance Zone but this Zone between 1,139-1,15 could not be conquered sustainably at the Moment.
The Zone turned again into a big resistance Zone.
Prices below that Level turn the Chart again bearish! A possible target at the downside could be the Grey "3" at 1,125
Only Prices above 1,15 will lighten the Chart and generate the TP @ 1,175

TP and MoB-Zone reached
TP and MoB-Zone reached

We have reached my exspected level -the target of the sh-pattern.
Now it s getting very interesting. This Level is a potential selling zone - a MoB - the R/R for a short looks phantastic.
Can the eurusd-0.90% brake through that selling zone, a big buying-signal would be generated.A possible target of the Breakout could be the 62,8 fibo-retracement @ 1,1755 from the move 1,25-1,044.
I exspect a shortterm pullback to 1,1190 ( "3?")

Little inverse SHS ?

Will the shs push the price to the upper edge of the triangle?
Green: preferred Szenario
Gey: Alternative Szenario
when is the good time to open position on EUR/USD ?
ElsaEur ElsaEur
I am sorry I mean
to trade EURUSD
After European market open
+2 Reply
Nice job..Thanks..
FxWirePro PRO Josphat89
thank you
United States
United Kingdom
Home Stock Screener Forex Signal Finder 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
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out