From the above chart EURUSD is showing the BAT Pattern which is rare formation and is near to similar to the Head and shoulder pattern, just a difference is the Head is not above the shoulder and is below the both the shoulder which gives the BAT pattern outlook on the chart.
yesterday after the sharp correction which we have seen from 1.2940 and tested the lower level of 1.2821 testing the support of 1.2820 and closing was near the Neck Line support as well. It is expected to have a gap down opening on Monday which will be below 1.2800 and will move further towards the expected support of 1.2610 and 1.2480 will be the target in near term. Only Closing above 1.2890 will hamper the bearish outlook in market.
Trading Call : Sell EURUSD @ 1.2800 Stop Loss @ 1.2900 Target @ 1.2610 - 1.2480 in near term.
Rajeev Darji
+91-9820987859
