themarketzone

This could be $EURUSD's target zone

FX_IDC:EURUSD   Euro / U.S. Dollar
The current run in $EURUSD started from a bullish Gartley (yellow) near 1.085.
The important breakout happened only this week when the $EURUSD finally broke out of its down trend line and the strong resistance it had near 1.1 (the zone I constantly mentioned in my newsletters and posts).

By the strength of the breakout, you can see how crucial it was and how things have changed now and $EURUSD is probably heading towards a mid-term correction move.

Near 1.13-1.14 $EURUSD will complete two bearish harmonic patterns - Bearish Butterfly and Bearish Bat . (red and blue in the chart)
This could be the extended target zone for those who are holding a bullish position in $EURUSD (like me) and a potential sell zone for those who seek bearish opportunities.
It doesn't mean that $EURUSD can't have a pullback on its way to the patterns PRZ, but even if it does, I will probably hold my bullish bias as long as it stays above 1.1

1.14 is also an important daily structure zone and if you'll zoom out to the daily chart , you will be able to see that the 200 SMA line is also inside that sell zone, which makes it a zone to pay attention to.. whether you are a bull or a bear.

If you like this content, follow me on TradingView and visit my site and subscribe to my weekly newsletter - http://goo.gl/HXjCPV
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out