EUR/USD forms Bullish Cypher Pattern,good to sell on rallies
Harmonic Pattern- Bullish Cypher Pattern
Potential reversal Zone (PRZ) -1.10450
The bullish cypher pattern becomes invalid only if it breaks above 1.10450.
The pair has made a low of 1.09257 after making a high of 1.10420. it is currently trading around 1.09390.
Overall trend is still weak as long as resistance 1.10450 holds. Any break above 1.10450 will take the
pair till 1.1070/1.1090 level.
On the lower side major support is around 1.0900 and break below will drag the pair further down till 1.0830/1.07850 level.
It is good to sell on rallies around 1.09850-1.0990 with SL around 1.1045 for the TP of 1.0785/1.0720
Potential reversal Zone (PRZ) -1.10450
The bullish cypher pattern becomes invalid only if it breaks above 1.10450.
The pair has made a low of 1.09257 after making a high of 1.10420. it is currently trading around 1.09390.
Overall trend is still weak as long as resistance 1.10450 holds. Any break above 1.10450 will take the
pair till 1.1070/1.1090 level.
On the lower side major support is around 1.0900 and break below will drag the pair further down till 1.0830/1.07850 level.
It is good to sell on rallies around 1.09850-1.0990 with SL around 1.1045 for the TP of 1.0785/1.0720