CapMoore

ABCD Pattern Completed

FX:EURUSD   Euro Fx/U.S. Dollar
58 0 3
Price has reached the ABCD pattern completion
at 1,1235. A failure to find support here and price
may continue to the 127 extension/Weekly S1 which
should hold support (on daily timeframe ) in a bullish
trend. Still, the drop from 1,1720 high has been rather
impulsive, though not as impulsive as the move up must
be added. Maybe it is a natural counteraction but could
also signal a medium top in place. Either way, looking
at intraday charts here for a bounce and a buy signal
is the main idea, trading the ABCD pattern . Perhaps on
a retracement after a bounce. Let's see if the level holds
(and the weekly PP).
Minimum target of ABCD pattern is 1,1415 (38,2 fib of whole
pattern)
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