On the EUR.USD 1hr chart we have a potential long opportunity at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.0580 & 1.0526
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 1.0788
Stop loss would be placed below X leg structure support.
Target 1 - 1.0658
Target 2 - 1.0707
The price reversal zone on this pair is between 1.0580 & 1.0526
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 1.0788
Stop loss would be placed below X leg structure support.
Target 1 - 1.0658
Target 2 - 1.0707
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Monthly outlook.
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I am looking to take this pair short into next week based on a my alternative entry strategy.
Awaiting a break below 1.0700 to confirm.
Awaiting a break below 1.0700 to confirm.
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Price retesting the D leg completion.
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Please note, this setup is still valid until price exceeds the C leg.
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Daily Pattern outlook as price breaks 1.0800.
