EUR/USD - Current View
Firstly we see a double top with bearish divergence which signals a reversal to the downside
We then see a bullish gartley awaiting completion at the D leg (1.272 fibonacci extension of A-B leg
Resistance has become support (white rectangle) and the price is currently not able to break it so we will most likely see a bounce which will result in a small pullback
The ichi cloud is also acting as support which further suggests we will see a small pullback
Yestserday's candle closed as a pinbar testing the support level which signals a small pullback to the upside
When the bullish gartley has completed the targets will be at the 0.5 fibonacci level made from X-A around the 1.10 level
Stop loss will not ust be below the X leg but also below the swing low which makes the stops safer
We then see a bullish gartley awaiting completion at the D leg (1.272 fibonacci extension of A-B leg
Resistance has become support (white rectangle) and the price is currently not able to break it so we will most likely see a bounce which will result in a small pullback
The ichi cloud is also acting as support which further suggests we will see a small pullback
Yestserday's candle closed as a pinbar testing the support level which signals a small pullback to the upside
When the bullish gartley has completed the targets will be at the 0.5 fibonacci level made from X-A around the 1.10 level
Stop loss will not ust be below the X leg but also below the swing low which makes the stops safer
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