EUR/USD forms bullish cypher pattern, targets 1.1150

Harmonic Pattern formed:Bullish cypher pattern

Potential reversal Zone (PRZ) - 1.1460

• EUR/USD has declined after making a high of 1.1459 on Friday. Overall trend is still weak as long as resistance 1.1460 holds.
   
• Any further bullishness can be seen only above that level.
   
• The pair's minor resistance is around 1.1340 and any break above would extend gains till 1.1375/1.14365.
   
• On the downside minor support is around 1.12700 and any indicative break below will drag the pair further down till 1.1200/1.11500.

It is good to sell on rallies around 1.1355-60 with SL around 1.1460 for the TP of 1.1210/1.11500.