EURUSD 1HR
The Eurusd has been falling steadily since last Friday and is currently forming a Gartley butterfly pattern. There is an high probability that the Eurusd will fulfill this pattern by finding support around 1.1147 - 1.1129 price zone which represents the 1.27- 1.41 retracement of the XA up move.
The Eurusd is currently at 1.1147 the 1.27 retracement of the XA up move, if this price level fail to hold the next price level to watch is the 1.1129 price level which represent the 1.41 retracement level. The price action withing this price zone is key, we want to see signs of strength signs of demand entering the market to confirm the pattern. If prices close strongly below 1.41 the pattern is invalid.
