Similar to the USDJPY
, instead we have a possible bearish cypher
forming on the daily timeframe
. This pair is in a weekly downtrend and has recently hit a level of support/resistance
. The D point in the pattern could be a retest before further decrease in price. If the pattern completes I'll look for an entry around the 81.00 - 82.00 price level.
AB = 0.382 - 0.618
= 1.13 - 1.414
XD = 0.786