- Harmonic Pattern Formed- Bearish Cypher pattern
- Potential reversal Zone (PRZ) -1.0580
- EUR/USD consolidated in narrow range between 1.06733 and 1.0620 yesterday pair has broken minor resistance 1.06750 and a intra day jump till 1.0720/1.0770 is possible.
- On the downside any break below 1.06200 confirms minor weakness , a decline till 1.05900 is possible.
- Further bearishness can be seen if it breaks below 1.0580 (trend line joining 1.06731 and 1.06168).
- Overall bearish invalidation only below 1.0830 level.
It is good to buy at dips around 1.0660-65 with SL around 1.0615 for the TP of 1.0720/1.07650
The material has been provided by InstaForex Company – www.instaforex.com