Euro / U.S. Dollar
Long
Updated

EUR/USD Harmonic Pattern & Trend Analysis – Bullish Continuation

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This chart is a EUR/USD 30-minute price chart from TradingView, showing a harmonic pattern (likely a Gartley or Bat pattern) along with trend channels and a projected price movement.

Key Observations:
Harmonic Pattern:

The blue shaded area represents a harmonic pattern, likely a Bullish Bat or Gartley pattern.
The labeled points X, B, C, D indicate the harmonic structure, with a completion near X.
Uptrend & Trend Channel:

The price is following an ascending channel, respecting the upper boundary near 1.0940 - 1.0950.
The D-point completion of the harmonic pattern suggests a potential pullback before further continuation.
Projected Price Movement:

The black arrows indicate a possible scenario where price retraces slightly before continuing its bullish move.
The blue arrow highlights a key level where buyers might step in for a new push higher.
Volume Considerations:

There is moderate volume supporting the current uptrend.
If volume remains strong on a pullback, the bullish breakout has a higher probability.
Conclusion & Trade Idea:
Short-term: Expect a small retracement before potential continuation.
Bullish Breakout Confirmation: A breakout above 1.0950 could trigger more upside towards 1.0970 - 1.1000.
Risk Management: If price falls below 1.0890, it may invalidate the bullish outlook.
Trade active
Pattern Identified: Possible Bullish Bat/Gartley harmonic pattern.
Trend: Uptrend within an ascending channel.
Key Levels:
Support: 1.0890 – 1.0910 (possible pullback zone).
Resistance: 1.0950 – 1.0970 (breakout level).
Projection: A minor retracement before potential bullish continuation.
Risk Management: If price falls below 1.0890, bullish bias may be invalidated.
Trade closed: stop reached

Disclaimer

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