08.06.2022 - Intraday EURUSD (AB=CD Chart Pattern)

Today's EURUSD market shows uptrend momentum from the RSI. However, it might reverse identifiable from AB=CD pattern. It is expected go on short (sell at Entry Price 1.07394) at point B (or just before) where the pattern ends, Take Profit at 1.06977 and Stop Loss at 1.07569 i.e. with the risk to profit ratio of 1:3.

Note that AB=CD patterns are not always perfect, however, they are indicators of directional changes.