$EURUSD continues to show strength today and the price is testing the X zone of the bearish Bat pattern I mentioned in my previous analysis (see linked idea).
The fact that the price bounced from 1.14, which was structure resistance, and right now it is above two rising Triangles patterns suggests that $EURUSD intends to continue higher towards the next resistance zone.
But.. this day isn't over yet.
A close below 1.14 could be a bearish signal on $EURUSD.
Bearish scenario:
With a stop loss above 1.148 you can take the last shot at shorting $EURUSD based on the Bat pattern.
Bullish scenario:
With stop loss below 1.138 you can perhaps bet on the breakout and the run towards 1.16 and 1.18
Tomer, The MarketZone
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The fact that the price bounced from 1.14, which was structure resistance, and right now it is above two rising Triangles patterns suggests that $EURUSD intends to continue higher towards the next resistance zone.
But.. this day isn't over yet.
A close below 1.14 could be a bearish signal on $EURUSD.
Bearish scenario:
With a stop loss above 1.148 you can take the last shot at shorting $EURUSD based on the Bat pattern.
Bullish scenario:
With stop loss below 1.138 you can perhaps bet on the breakout and the run towards 1.16 and 1.18
Tomer, The MarketZone
Follow me on TradingView
Subscribe to my newsletters - goo.gl/psNTqg
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
Comment:
Pattern was violated. If $EURUSD will drop below 1.145 again, it will create a False Break and reason to take another shot at this setup
