The bearish shark that completed a couple of days ago (see Related Ideas: "EURUSD: A Completed Shark Pattern + Explanation") has hit both TP1 and TP2 targets for a nice combined +264 pips. There is still a TP3 target available but personally, I do not think it will hit. Why? See my last post on this pair that shows a STRONG reversal area that is looming just above what would be the TP3 (61.8%) target (see Related Ideas section "UPDATE #1: EURUSD: Another Bullish Shark Is Waiting + Bull Bat").
Also, with the TP2 target hit, the Bullish 5-0 pattern is also complete so we may see prices go down a little bit more and then I will expect to see prices start moving back up maybe after some consolidation.
Also, with the TP2 target hit, the Bullish 5-0 pattern is also complete so we may see prices go down a little bit more and then I will expect to see prices start moving back up maybe after some consolidation.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.