EURUSD Bearish Shark in Progress pour FX:EURUSD par RCtrader2

EURUSD Bearish Shark in Progress

The 4h chart exhibits an imperfect bearish shark that could give us between 100 and 150 pips upwards up to 1.1200 in the next 5-10 trading days. And more than 200 hundred pips on the way down. The price is somewhere in the mid of the downtrend channel on the weekly chart. It's been declining gradually in the past months and will possibly continue doing that down to 1.06 - 1.04.

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The AC length is under 1.130 which makes it an imperfect shark or gives the clue that it is not a harmonic pattern.

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It's Monday and the EU session is evolving smoothly.

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The price moved higher than last week's high. :)

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The price reached 1.1200.

RCtrader2

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EURUSD weekly channel

par RCtrader2

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