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FxWirePro
Jul 20, 2015 7:14 AM

EUR/USD faces strong support near two month low, targets 1.1035 Long

Euro Fx/U.S. DollarFXCM

Description

EUR/USD has formed bullish butterfly pattern in 4 hours chart and this confirms short term bullishness, a jump till 1.1035 cannot be ruled out.

Major support is around 1.0800 and any break below will drag the pair till 1.066/1.0500.

On the higher side minor resistance is around 1.0850 and break above will target 1.0900/1.0950/1.1035 in short term.

EUR/USD holds steady near two month lows and any further weakness can be seen only below that 1.0800 level.

It is good to buy at dips around 1.0845 with SL around 1.0800 for the TP of 1.0950/1.1035.
Comments
Nightwish
Your Gartley is not valid. Point C is wrong, setup is wrong.
Alexander_Nikitin
it's not a gartley. 78,6+ b-point means butterfly.
FxWirePro
Ok thank you
Nightwish
exactly.
RiccardoBartolini
there is a Gartley as well from the 1.0466
and butterfly to about to finish what Gartley is supposed to have started
i am not trading the eur right now
but waiting to reach 1.07 at least
ArkadiiParavozoff
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bilk29
thank you.
KingVestment
bullish gartley or bullish butterfly?
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