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EUR/USD Short term outlook

FX:EURUSD   Euro / U.S. Dollar
669 1 6
•RES 4:1.1035 ( Apr             6th High)

•RES 3: 1.100

•RES 2: 1.0935 ( 61.8% retracement of 1.105 and 1.0520)

• RES 1: 1.0847 ( Apr             17th high)


PRICE: 1.08036 @ 6:19 GMT            

•SUP 1: 1.0800

•SUP 2: 1.0753 (200 day HMA )

•SUP 3: 1.0640 ( 61.8% retracement of 1.0520 and 1.0847)

•SUP 4: 1.0580 (15th Apr             low)

Commentary:

EUR/USD             has retreated after making a high of 1.0895. It has formed Bearish gartley pattern in hourly chart and decline till 1.0680 is possible.

Technically EUR/USD             is facing major resistance around 1.0935 and any break above would extend gains till 1.100/1.1035. The major support is around 1.0640 and any further weakness can be seen only below that level.

Sell around 1.0850 with stop around 1.0936 for the target of 1.0680.


Hmmm 1.0936 is right around the 78.6 which is where you should be selling the gartley you outlined to begin with. You want to stop the trade out here instead?
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