EUR.NZD - BEARISH CYPHER SETUP - 1.4882
On the EUR.NZD 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.4882 & 1.4951
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 at around 1.4677
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.4783
Target 2 - 1.4722
The price reversal zone on this pair is between 1.4882 & 1.4951
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 at around 1.4677
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.4783
Target 2 - 1.4722
Comment:
Bullish RSI divergence has formed on the 15min TF
Comment:
Please note, although price has pushed away from a D leg completion the setup is still valid.