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Harmonic pattern- Bullish Cypher pattern
Potential Reversal Zone (PRZ) -1.3300
- Loonie trades in narrow range between 1.32248 and 1.3300 for the past two days . Market awaits Canada housing prices which are to be released today for further direction.
- Any break above 1.3300 will take the pair till 1.3320 /1.3500 in short term.
- The pair is facing strong support around 1.3220 and break below confirms major weakness a decline till 1.3180/1.3140 is possible.
- Overall trend reversal only below 1.3030 levels.
It is good to sell on rallies around 1.3270 with SL around 1.3300 for the TP of 1.3180/1.3135
