- Harmonic Pattern- Bullish Cypher Pattern
- Potential reversal Zone (PRZ) -1.10450
- The bullish cypher pattern becomes invalid only if it breaks above 1.10450.
- The pair has made a low of 1.09257 after making a high of 1.10420. it is currently trading around 1.09390.
- Overall trend is still weak as long as resistance 1.10450 holds. Any break above 1.10450 will take the pair till 1.1070/1.1090 level.
- On the lower side major support is around 1.0900 and break below will drag the pair further down till 1.0830/1.07850 level.
It is good to sell on rallies around 1.09850-1.0990 with SL around 1.1045 for the TP of 1.0785/1.0720
The material has been provided by InstaForex Company – www.instaforex.com