On the EUR.AUD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.4380 & 1.4291 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into 1.4640 Stop loss would be placed below X leg structure support .
Target 1 - 1.4509 Target 2 - 1.4590
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Price is now approaching D leg completion.
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EUR.AUD - D leg completion.
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Bullish RSI Divergence
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A break and close above 1.4437 should be a strong indication of bullish momentum and a potential target 1 if this trade was taken.
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Price is now approaching target 1 if you entered at 1.4380
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