EURUSD will be on moon (Gartley Pattern Shown)

29 Jan

Hello and good morning traders and investor today Tom is sharing the idea about EURUSD

Wednesday, January 29, 2025

EURUSD H1 Chart: Potential Trend Reversal Ahead!

In this analysis, I'd like to highlight several key indicators suggesting EURUSD may experience a correction in the one-hour time frame:

1. From a technical standpoint, a Rising Wedge Pattern appears to be unfolding, hinting at a potential reversal.

2. The emergence of the Evening Star Candlestick Pattern within the Resistance zone ($1.05297) may signal a trend reversal.

3. Additionally, the Bearish Gartley Harmonic Pattern suggests a possible decline.

4. According to Elliott wave theory, EUR/USD seems to be nearing completion of the main wave 4.

I anticipate EUR/USD to break below the lower trendline of the Rising Wedge Pattern, potentially leading to a decline towards $1.03700. If the Support level is breached, the next target zone will be ($1.02700-$1.02200).

⚠️ Note: Conversely, if EURUSD successfully breaks above the Resistance zone ($1.05297), a bullish rally may ensue.

Please ensure you follow your trading strategy and stay updated; this is just my analysis. Don't forget to set Stop loss for your positions.

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Best wishes Tom 😎

29 Jan

Catatan