A probable 'W' like pattern is expected to complete 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 4Hr chart based on Harmonic Patterns.

As seen on the chart below, a probable ‘W’ like pattern is expected to complete 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 point. 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 1.0892 level. The expected drop of price is expected to be anywhere between the 1.0924 to 1.0982 level in reference to historical significant support and resistance.

Happy Pipping !
Thank you.