EUR/USD Technical Analysis – Bullish Harmonic Pattern in Play

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#EUR/USD# EUR/USD Technical Analysis – Bullish Harmonic Pattern in Play

The EUR/USD 4H chart presents a bullish harmonic pattern, suggesting a potential upside continuation.

Key Observations:
1️⃣ Bullish Harmonic Pattern:

A Gartley/Butterfly pattern is forming, with point D projecting a potential upward move.
The Fibonacci ratios at 0.678 and 0.776 retracements confirm the validity of this setup.
2️⃣ Support Zone (Green Box):

Price is consolidating within this key support zone after a strong bullish impulse.
Holding above this level increases the chances of a breakout to the upside.
3️⃣ Moving Averages Confirmation:

Price is trading above the 50 & 200 EMAs, supporting a bullish bias.
Potential Scenarios:
🔹 Bullish Breakout (Primary Expectation)

If EUR/USD maintains support, expect a move towards 1.0650 - 1.0700.
A breakout from the D point of the harmonic pattern would confirm further gains.
🔹 Bearish Breakdown (Alternative Scenario)

A failure to hold the 1.0450 support zone could trigger a deeper retracement towards 1.0410 - 1.0380.
Trading Strategy:
📌 Buy zone: 1.0450 - 1.0460 (Support Area)
📌 Target Levels: 1.0600 - 1.0700
📌 Stop-loss: Below 1.0410 for risk management.

Will EUR/USD break higher or retest support? Let’s watch for confirmation!

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