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Two Long Term Harmonic Plays
EURUSD
, D
Long
EURUSD: Two Long Term Harmonic Plays

The 0.886 level held beautifully on Friday's downside move, as such has potentially completed a larger harmonic BC leg. Current price action can be seen as very similar to the last Euro rally from the 1.1800 - 1.4900 move. Bearing in mind the similarity, I have included a crab pattern to account for any abnormal gains towards exhaustive price levels. The CD leg...

Bearish Bat
EURUSD
, 60
Long
EURUSD: Bearish Bat

Long to D based on week ending shorts covering. Flip the trade at the 0.886XA short to lower targets in the 1.2770/80 region for a larger harmonic still playing out. Note: Harmonics do not always reach desired targets so scale out at take profits. More importantly, US data shift could have been enough to initiate excessive dollar buying into covering; meaning the...

Harmonic
EURUSD
, 5
Long
EURUSD: Harmonic

Initiate the second trade as price rises from the 0.886 through the 0.786. Chart explains the trade.

Quick Short Harmonic Play
EURUSD
, 5
Short
EURUSD: Quick Short Harmonic Play

Breach of 1.2930 suggests failure Breach of 1.2945 confirms

The Big Picture
EURUSD
, 240
Long
EURUSD: The Big Picture

The setup for this summers trade including an overview of the price action leading to this trade outlined above. Longs can be established between the 0.786AB & 0.886AB levels. Extreme short targets for the smaller harmonic are located just below the 0.886AB level; consequently, stops have been given generous room, and I have placed them appropriately below point...

Harmonic Transition
EURUSD
, 60
Long
EURUSD: Harmonic Transition

The lows have held thus far despite the weak morning data. This pattern looks to be playing out following the previous harmonic reaching a potential reversal target at 1.2935. Should the lows from this morning hold then this pattern has a strong possibility to push towards the marked upside targets.

EUR/USD Potential Harmonic Unfolding Now
EURUSD
, 120
Short
EURUSD: EUR/USD Potential Harmonic Unfolding Now

Current harmonic potentially unfolding, all target levels line up with current bounces. This pattern reflects a deep retracement to support levels. Considering the rate cut and G7 weekend meetings this move is playing out presumably as funds and players cut longs. The intention will be to re-establish them at deep support levels assuming no negative factors...

High R:R Bearish Bat reversal Scenario
EURUSD
, 60
Short
EURUSD: High R:R Bearish Bat reversal Scenario

Possible New Year Reversal pattern if commercials and specs choose to re-short the Euro after re-balancing for 2012.

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