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.
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.