EURUSD H4 Chart Update
Bulls were succesful to push price back inside Pivot Zone and above very important level 1.0587.. As I mentioned earlier the bulls have only one day left to create a monthly candle that closes above 50% of the body of previous monthly candle so that there remains a chance to retest higher levels (supported by potential Cypher, Shark and Inverted H&S patterns.. These 3 important patterns are all supporting bulls where the bears are only supported by a potential Gartley (and maybe an AB=CD which I didn't draw on the chart)
The lower edge of Shark pattern seems to be supportive for now (I drew a red line along it), therefore no shorting before that breaks.
Short and Simple: We have to see clear break of 1.0640 to say that bulls have fully taken control. That is not the case yet and therefore we stay bearish mid-term but also feel free to make some profits from this bullish retest attempts. To be able to short again we must see a come back below 1.0587.
Stay Green
Bulls were succesful to push price back inside Pivot Zone and above very important level 1.0587.. As I mentioned earlier the bulls have only one day left to create a monthly candle that closes above 50% of the body of previous monthly candle so that there remains a chance to retest higher levels (supported by potential Cypher, Shark and Inverted H&S patterns.. These 3 important patterns are all supporting bulls where the bears are only supported by a potential Gartley (and maybe an AB=CD which I didn't draw on the chart)
The lower edge of Shark pattern seems to be supportive for now (I drew a red line along it), therefore no shorting before that breaks.
Short and Simple: We have to see clear break of 1.0640 to say that bulls have fully taken control. That is not the case yet and therefore we stay bearish mid-term but also feel free to make some profits from this bullish retest attempts. To be able to short again we must see a come back below 1.0587.
Stay Green
Be a seer, not a looker!
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