EURUSD Potential Harmonic Pattern Formations
We have 2 potential Bearish Harmonic Pattern formations on the Daily Chart.
Before tthe patterns, we must focus on the 1.17200 support. Those formations would be on the target if the pair holds above 1.17200 support. Break below the 1.17200 support would carry the price 1.16500.
Patterns on the Daily Chart:
Bearish Butterfly Pattern: Area of the short entry: 1.19200 – 1.19500
Bearish Gartley Pattern: Area of the short entry: 1.18500 – 1.19200
We will look for a bearish divergence on the smaller chart timeframes to enter the short trade.
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EURUSD : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.