Harmonic Pattern Formed -Bullish Cypher pattern
Potential reversal Zone (PRZ) - 1.34350
- The pair has retreated after making a high of 1.3435 and is currently trading at 1.3349. Canadian dollar has slightly recovered after Saudi Arabia has pledged to stabilise crude oil prices.
- The focus will on Upcoming OPEC meeting which is to be held on Dec 4th and the hope that some production cuts will be forthcoming.
- On the lower side minor support is around 1.3340 and break below targets 1.3315/1.3290./1.3245.
- The pair's major support is around 1.3220 and below that level decline till 1.3160/1.3100 is possible.
- The short term resistance is around 1.3380 and above that jump till 1.3435/1.3460
It is good to Sell on rallies around 1.3365-70 with SL around 1.3435 for the TP of 1.3320/1.3160
