EUR/USD Forecast: Still Short

Here is what to expect:

RECAP:

In our previous analysis EUR/USD was trading at 1.21240
We expected the pair to retrace back to 1.20800 but this retracement was rejected and the pair reached highs of 1.21700 triggering our buy stop at 1.21550 which we closed at 1.21650 after a bearish harmonic pattern had formed signaling a reversal.
We Capitalized on this reversal and opened new sell orders and the pair fell to 1.20950 triggering our Sell stop at 1.21100 and has just hit our TP at 1.20900. In total we banked 1800 pips on the pair since our last analysis.

WHAT TO EXPEXT:

Currently at 1.20900
We expect the pair to continue its downward trend though the pair is currently at support level so a reversal is possible
Bullish Shark is currently being formed at this level so there's a high chance of a reversal
Break below this support will confirm further downward movement to lows of 1.20000
Reversal at this point will see pair trading back to 1.21400

OUR POSITIONS:

Currently @: 1.20900
Sell Stop @: 1.20600
Sell Stop TP1 @: 1.20400
Sell Stop TP2 @: 1.20000
Buy Stop @: 1.21250
Buy Stop TP @: 1.21500

Link to our previous analysis below

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.