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FxWirePro:EUR/USD forms Bearish Cypher pattern, good to sell on rallies

Monday, January 23, 2017 7:31 AM UTC

Potential Reversal Zone (PRZ) - Bearish cypher pattern
Major resistance- 1.07620
The pair broken major resistance at 1.07196 high made on Jan 17th 2017 and jumped till 1.07548 at the time of writing. It is currently trading around 1.07440.
Potential reversal Zone is around 1.07620 and any break above will take the pair till 1.08015.
On the lower side, any break below 1.07160 (23.6% retracement of 1.05780 and 1.07548) will drag the pair down till 1.06500/1.0580.

It is good to sell on rallies around 1.0755-1.0760 with SL around 1.0815 for the TP of 1.0655/1.0580

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FxWirePro:EUR/USD forms Bearish Cypher pattern, good to sell on rallies

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