Short

Are Bearish Bats flying into EURUSD?

Updated

There is a nice Bullish Bat harmonic formation forming up in EURUSD that could be supported by today´s US PMI numbers. If we hit 1.0620 I would go for small short position to 1.0560.

Trade active

We had a touch on 1.0614 where I closed my small long that started on 1.05877. For more agresive entry we can enter short at 1.0614 or wait until US PMI news where price should be around 1.0620.

Note

After negative trade balance data we have EURUSD raising back to area of 1.06 to 1.0620 where I expect reversal on US PMI data and even though we broke out of 4h channel I expect this small reversal back to 1.0550 area.

Trade active

Second trade from the end of D wave of the bat formation is active now. Awaiting US PMI data.

Trade closed: stop reached

Stop was triggerred on 1.0630 level above D.

JakubJirka

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