Cable forms bearish Shark pattern, good to buy at dips
Harmonic Pattern - Bearish Shark pattern
Potential Reversal Zone (PRZ) - 1.4980
The cable has made a low of 1.49935 and recovered from that level . It is currently trading at 1.50918. The pair has broken major trend line resistance 1.05750 and this confirms minor bullishness , jump till 1.5150/1.5220 is possible .
On the downside minor support is around 1.5050 and below that level 1.5000/1.4980.
Cable minor resistance is around 1.5130. Any break above 1.5130 will target next level 1.5150 (Major resistance)/1.5220.
It is good to buy 1.5045-50 with SL around 1.4980 for the TP of 1.5150/1.5220
Potential Reversal Zone (PRZ) - 1.4980
The cable has made a low of 1.49935 and recovered from that level . It is currently trading at 1.50918. The pair has broken major trend line resistance 1.05750 and this confirms minor bullishness , jump till 1.5150/1.5220 is possible .
On the downside minor support is around 1.5050 and below that level 1.5000/1.4980.
Cable minor resistance is around 1.5130. Any break above 1.5130 will target next level 1.5150 (Major resistance)/1.5220.
It is good to buy 1.5045-50 with SL around 1.4980 for the TP of 1.5150/1.5220