McQuant

McQuant

Potential forming of bearish bat. So we can experience PA going up to around 0.886 fib. level (D on chart)

McQuant

Potential Bearish bat forming

McQuant

We can see potential in emerging some bearish harmonic patterns on EURUSD. If price action (PA) will reach D around 1.37687 it would finish bearish crab and we can see PA reversal at that point. However if this point won't hold and PA will go further up we can experience PA rising up to 1.4161 which would form bearish crab.

McQuant

For today we can experience emerging Bullish Gartley. If PA will go with that scenario we can see price decline somewehre at 1.61070. Eventually if Gartley's D point would be breached downside we can see price action decline down to 1.59680 which would form bullish crab pattern.

McQuant

Sell limit at 1.6226

McQuant

On higher time frame we could see completed Bearish Shark. Currently on 30 mimute time frame there is possibility that Bearish Bat would be completed with confluence of Alternate AB=CD at 1.62191. Bat's PRZ is in perfect conjunction with PRZ of Bearish shark on higher time frame and could work as second PRZ's testing phase before major price decline.

McQuant

Bearish Buttefly completed

McQuant

Bearish Shark approaching its PRZ. Price reversal and decline can come soon.

McQuant

On higher timeframe there is a sign of emerging of some bullish pattern (too early for correct identification). But anyway once B point is formed and steady we can see completion of bearish shark (cyan dashed lines) which could take PA up to point C (around 0.8400). From there PA can experience decline to point D.

McQuant

Rising wedge with confluence of Bearish Shark on higher timeframe.

McQuant

ABCD - correction

McQuant

ABCD finished

McQuant

ABCD pattern continue in CD emerging its CD leg.

McQuant

Target is 0.886 of XB

McQuant

Taking oppty. of emerging CD leg.

McQuant

Bearish Shark is emerging its BC leg (wrong text on chart). 88.6(1,99141) is a 1st target.

McQuant

I can see emerging BearishShark and also Bearish Butterfly. Both patterns have confluence in their PRZ and this fact should act as magnet for price action. So I'm expecting price could go upside up to 1,9944. (I know that Shark patern should have different point labels, but I did not find appropriate tool here for drawing Sharks)

McQuant

I'm expecting break upside soon.