TradersClassroom

Weekly Cypher on the EURUSD

FX:EURUSD   Euro / U.S. Dollar
77 0 2
I dont usually look at time frames above the daily since I trade intraday but occasionally looking at the higher time frames can help make heads and tails of the short term moves. It looks like a cypher pattern has just completed on the EURUSD             weekly chart. Targets would be as follows:

Target 1: 1.1129
Target 2: 1.1353
Stop would below the "X" point

Risk reward on cyphers is something you have to keep an eye on to make sure you are taking positive trades. If you decide to take this trade it has a slightly better than 1:1 R/R for the first target.
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