EUR/USD: Possible new harmonic >> Bearish Cypher @ 1.1465 ?
EUR/USD has been moving very harmonic for the past year or so, therefor I keep looking for these kind of patterns...
Target 2 for the shark may be coming up soon... (1.1347)
Before we get there we have the 100MA (we are there now) and the trendline as possible levels of reversal or trend pause...
Beyond the shark TP2 the next level to watch for shorts lies around 1.1465, this is where a possible Cypher pattern completes...
I added some fib extensions based on a possible bullish wave count (see possible wave count 1 and 2 on chart, looking for end of wave 3 now...).
Target 2 for the shark may be coming up soon... (1.1347)
Before we get there we have the 100MA (we are there now) and the trendline as possible levels of reversal or trend pause...
Beyond the shark TP2 the next level to watch for shorts lies around 1.1465, this is where a possible Cypher pattern completes...
I added some fib extensions based on a possible bullish wave count (see possible wave count 1 and 2 on chart, looking for end of wave 3 now...).
Comment:
Shark TP2 almost hit today, PA reversed in my second target area, would have been a good short on lower TF's but I wasn't around to trade it. Watch for a second approach of the target zone tomorrow (specifically 1.1347-1.1356) for another possible short if confirmed by lower TF momentum or ending structures.
