themarketzone

200 days MA holds as support - What's next

FX:EURUSD   Euro / U.S. Dollar
Last week EURUSD             was saved last Friday following NFP and again the price bounced from the 200 days MA line.
The price is between 3 MA lines - 200 DAYS as support and 50 & Fast as resistance.
Notice the Triangle pattern that I've added this week - Breakout scenarios are shown at the chart.

A close below the 200 days MA line will send EURUSD             towards pattern completion near 1.1
A close above the Triangle will drive EURUSD             towards 1.13 and 1.14 again.

Read more in my weekly newsletter (see link in signature)
Comment: Triangle Breakdown was confirmed earlier this week and the price made its way to the PRZ of the bullish Gartley.
1.1 is what stands in EURUSD's way towards 1.08 to complete a bigger Gartley pattern.

1.1 can lead to a pullback towards 1.15-1.2
See more details here https://www.youtube.com/watch?v=gwS73o4MMI4
Comment: With the Dollar Index (DXY) above 98$ and EURUSD with bearish weekly close... EURUSD may continue down towards 1.08 to complete a bigger harmonic pattern.

Read more - https://goo.gl/gtBPwF
Looks like upside is probable, on a new daily high.
+1 Reply
I tend to agree with you.. looks more bullish than bearish right now
+1 Reply
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