As seen on the chart below, a probable 'W' like pattern is thought to have completed at the D level marked by the blue colored box. Based on historical movements of this pair, the W like pattern below most often signals market 'Bearishness'.

Good day Traders, this is Kenny Simon giving a market outlook for this week on the EUR/USD 1Hr chart based on Harmonic Patterns.

As seen on the chart below, a probable ‘W’ like pattern is thought to have completed at the D level marked by the blue colored box. Based on historical movements of this pair, the W like pattern below most often signals market ‘Bearishness’ upon completion of this pattern.

 

EURUSD

 

At the moment, price is progressing upwards towards the D or PRZ area. Previously, prices have often aimed at the PRZ (Potential Reversal Zone) or at the D level before reversing.

At the time of writing, current price is at the 1.0980 level. The expected rise of price is expected to be anywhere between the 1.1073 to the 1.1138 area in reference to historical significant support and resistance before potentially reversing.

Happy Pipping !
Thank you.