On the EUR.USD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.0553 & 1.0518
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 back into the 1.0659 resistance level
Stop loss would be placed below X leg structure support.
Target 1 - 1.0603
Target 2 - 1.0635
The price reversal zone on this pair is between 1.0553 & 1.0518
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 back into the 1.0659 resistance level
Stop loss would be placed below X leg structure support.
Target 1 - 1.0603
Target 2 - 1.0635
Comment:
A pullback to trendline at 1.0619 is expected