On the EUR.USD Daily 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 1.0757 & 1.0871 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 1.0400 Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0597 Target 2 - 1.0498
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4hr setup still available.
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Have a good weekend traders!
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This is one setup I will be watching into the middle of this week.
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Cypher D leg now complete, a short opportunity is now available.
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A pullback is expected before a push lower into next week.
We never know what markets will do, what we do have is an edge and high probability over the market in price action doing what we anticipate, so we will just review it and act accordingly.