On the EUR.AUD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.4081 & 1.4027 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into 1.4238 Stop loss would be placed below X leg structure support .
Target 1 - 1.4155 Target 2 - 1.4201
Comment
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Break and retest occurred, a push lower now expected.