themarketzone

Cypher pattern in focus near 1.2

FX:EURUSD   Euro / U.S. Dollar
If you are trading short term, EURUSD presents a bearish setup near 1.2 with a bearish Cypher.
But if you look at the broader picture you can understand that any bearish pullback will only create bullish opportunities and allow to buy EURUSD from lower levels following a weekly bullish breakout.

Cypher pattern setup:
Short 1.2
First target zone - 1.185
Secondary target zone - 1.177

Read more about EURUSD, DXY, SPY and XLF in this week's newsletter #WeeklyMarketsAnalysis in Twitter

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.