After formation of BAT pattern priceline of Euro / US Dollar the famous Forex trading pair has formed another harmonic bullish Cypher pattern and entered in PRZ area.

Even thought B leg is retraced upto 0.307 rather than 0.382 Fibonacci but rest of the pattern is behaving as required perfect Cypher therefore I have ignored this difference.

Volume profile of complete pattern is showing less interest of traders at this area and even below the potential reversal zone as well.

Stochastic is oversold but did not give any bull cross sofar and MACD is still strong bearish therefore I would suggest to wait for MACD to turn weak bearish or for bull cross signal from Stochastic then buy.

The potential reversal zone can be used as stop loss in case the complete candle stick closes below the PRZ area.

I have used Fibonacci sequence to set the targets:

Buy between: 1.11999 to 1.08206

Sell between: 1.14961 to 1.22104

Regards,
Atif Akbar (moon333)