EURUSD UNDER THE CIPHER LENS
Euro Fx/U.S. Dollar FX:EURUSD
Presently enjoying 105pips profit run from our last broadcast on this pair (see link below for reference purposes). See below our anticipated plan to follow the psychology of the market.
Tendency: Uptrend ( Bullish )
Structure: Harmonic ( Cypher ) | Descending Channel
Observation: i. Point B retracement of the primary XA leg lies at an approximate of 0.618.
ii. Point C falls within the 1.272/1.414 projection of the primary XA leg.
iii . 0.786 retracements of XC @ 0.68000 zone confirms completion of the harmonic pattern at point D.
iv. A Descending channel is observed crashing into the demand zone .
v. Expecting a rally from Demand zone as Price action test this zone with engulfing bearish candle.
vi . Price slicing above our Moving Averages on lower time frames.
Trading plan: BUY opportunity with a minimum potential profit of 700 pips.
Potential Duration: 15 to 20 days
Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.
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