themarketzone

This could be $EURUSD's target zone

FX_IDC:EURUSD   EURO / US 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 .

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Tomer J,
The Market Zone - You trading Edge
Visit my website - http://www.themarketzone.net/
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