Possible Double Bottom, 22k StillPossible Double Bottom with good Buying.
Double Bottom pattern target is 1x above the neckline - this would be around 21,950-22k. The 0.886 fib X-D also meets here, which would create a potential bearish harmonic .
If this does happen, my profit target will be the 1.618 and 3.14 fibs - around 20k and 18.3k.
There is a descending triangle , but I won't be shorting here - I have a feeling it will break upwards.
Harmonicsignals
22k then Dumpif XA=BC (AB=CD rule), then if we follow the same pattern as we are on this bullish reversal (0.446, 2.14) on short time frame, we could see 22k before a dump to around 18.3k.
The fibs lineup well to create a bear harmonic, and the potential Take Profit 1 would be 20k, with a final target of 18.3k.
Currently, there was a 0.382 retracement and the bulls bought. This is temporarily bullish.
EURAUD | Bullish Harmonic PatternEURAUD | Bullish Harmonic Pattern
On the daily chart, EURAUD completed a very nice harmonic pattern.
This is a signal that during the coming days or probably weeks we may see EURO
to change the price direction.
Considering that this pattern is in a daily chart it will spend a lot of time to
create the reversal process and it will not be so easy.
Targets:
🎯 1.4635
🎯 1.4735
🎯 1.4890
Thank you and Good Luck!