EUR.CAD - BULLISH CYPHER SETUP - 1.3990
On the EUR.CAD 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 1.3990 & 1.3904
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 1.4250
Stop loss would be placed below X leg structure support .
Target 1 - 1.4112
Target 2 - 1.4187
The price reversal zone on this pair is between 1.3990 & 1.3904
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 1.4250
Stop loss would be placed below X leg structure support .
Target 1 - 1.4112
Target 2 - 1.4187
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We have now seen a break on the 1hr chart above and the D leg is now complete.
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Although price is approaching 1.4112 you should be aware of the B leg structure at 1.4066
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If we see a break above 1.4112 the next 1hr minor resistance level is at 1.4114 (target 1)
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Price is now close to the target 1 placement, potential move lower into the London session.
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Price consolidating back into 1.4080 potential push higher in the coming hours.