WHY 1.17 IS SO IMPORTANT ABOUT EURUSD AND WHAT HAPPENS NEXT?
Hello traders,we are all witnesses to this EURUSD recent rally triggered by French elections and it's outcome and continued by Mario's Draghi speeches and the slowdown of Dollar and US economy generally.
Now we are all wondering where and when this rally will stop?
Let's see what technical analysis has to say:
TECHNICAL OBSERVATIONS
1.We can see the red resistance zone created by the weekly and daily structure.
2.We have also Fibonacci confluence as the 1.13 Fibonacci extension from the downward impulsive move coincides with previous structure.
3.We also have a bearish harmonic Crab pattern completion.
4.If price passes the red resistance area and the 1.17200 level it's more propably to watch the 1.20 soon..
5.If we would stop before 1.20 OR we rejection and bearish price action there is a valid harmonic pattern completion.
6.We can also see the ascending channel of EURUSD.
POSSIBLE SHORT TRADE:
BUY STOP AT 1,19700
ENTRY PRICE WITH PENDING ORDER AT 1.18200
FIRST TARGET PRICE T1 AT 1.13450
SECOND TARGET PRICE T2 AT 1.1000
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFTIS!!
Now we are all wondering where and when this rally will stop?
Let's see what technical analysis has to say:
TECHNICAL OBSERVATIONS
1.We can see the red resistance zone created by the weekly and daily structure.
2.We have also Fibonacci confluence as the 1.13 Fibonacci extension from the downward impulsive move coincides with previous structure.
3.We also have a bearish harmonic Crab pattern completion.
4.If price passes the red resistance area and the 1.17200 level it's more propably to watch the 1.20 soon..
5.If we would stop before 1.20 OR we rejection and bearish price action there is a valid harmonic pattern completion.
6.We can also see the ascending channel of EURUSD.
POSSIBLE SHORT TRADE:
BUY STOP AT 1,19700
ENTRY PRICE WITH PENDING ORDER AT 1.18200
FIRST TARGET PRICE T1 AT 1.13450
SECOND TARGET PRICE T2 AT 1.1000
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFTIS!!
Comment:
Price at critical resistance zone let's see what is going to do at this range..
Comment:
USD a little more downside as Obamacare will stay as health care system.
Comment:
Price action at critical point,or we have a retrace and the validation of advanced harmonic pattern or we are aiming for 1,20 as said.
The second bullish scenario is more possible right now.
The second bullish scenario is more possible right now.
Trade active
Comment:
Pattern is valid and we have our first pips...
Trade active
