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Short

EUR/USD forms Bullish Cypher Pattern, good to sell on rallies

FX:EURUSD   Euro / U.S. Dollar
1029 5 6
Harmonic Pattern- Bullish Cypher Pattern

Potential reversal Zone (PRZ) -1.10500

The bullish cypher pattern becomes invalid only if it breaks above 1.10450.

The pair has made a high of 1.10305 and declined from that level. 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.

The market awaits highly anticipated FOMC meeting on Dec 16th. Fed is expected to hike interest rates by 25bpbs to 0.50%.

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 1.1050 for the TP of 1.0900/1.0830
Have a Look at Shark at h4
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Its not cypher, u have used a wrong drawing tool................shark pattern.....but definitely respect your views.
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FxWirePro kopparam
I have taken 1.09811 and 1.10425 level. So it is cypher only
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make your own charts and keep them for yourself
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