EUR/USD forms bullish gartley pattern, targets 1.1340

FX:EURUSD   Euro / 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!: 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!

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
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?")

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 Josphat89
thank you
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