The orange line I drew up is from the highest high back in 2011 (about a 3,745 pip range). This line was broken last year in July. Recently it's established a consolidation area in the past month and can be seen that momentum has slowed for a outlook. As you can see the recent top has not been touched since late 2015.
The daily shows some up-ticks, and the shows a crossover though prices on the chart are consolidating. This timeframe also allows us to see the in the making, along with the intended target. I've also played the opposing side to see the strength of a turnout. The has not finished developing either and we can be seeing a rise to the . then a fall down to the . .
Although this analysis is brief I do believe the chart will go up to retest the 2015 high. So far I am because we still have some room to go up, if not to the top of the channel, then to the resistance from (0)-(1) on the wave (approx. 1.0826).
Looking for an entry point?