akyong
Short

EURNZD: Bearish Cypher Setup

FX:EURNZD   Euro Fx/New Zealand Dollar
171 5 3
There is a potential advance pattern setting up on the daily time frame.
Hi. Thanks for posting your chart. I don't specifically follow these harmonic but do find then fascinating when they appear relatively clear. The one you have is potentially interesting.

But do you not see the need to find a completing harmonic with current low being the low 1(.56 area) to give you possible low zone in place and then look for that bullish move to where you bearish cypher would develop and complete around 1.63 zone?
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Hi DanV,

Thanks! Actually, there is already one bullish pattern that is completed:
snapshot
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Yes, that is what I mean. May be 0.886 retracement would do the job rather than 0.881. So I suspect we could have market sell of early on in the week ans set of to move higher. Thanks.
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Yup. The price on my broker already hit the 88.6 level. The price on trading view is slightly different. But yup, we could see a potential rally back up :)
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Hahahah, that is clever and one step ahead of me. Well done.
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