If we consider the following; the upward channel movement (from the lows of 2015 August 24 to the highs of 2017 September 4) to be a retracement of the move from the 0.948 high of June 23, 2014 up to low of 0.685 on January 4, 2016. The retracement is yet to fill the 50% fib near 0.82 major level. Thereby movements still expected.
Pair is in an upward channel creating higher highs and higher lows. Next anticipated Higher High to be at 0.82 key level. Again movement expected.
1. 12 January 2018 candle closed as a rejected off the 8 as well as closed above the major key level 0.79
2. EMA's show momentum
3. Bounce off the upward
4. Pair in channel and still to touch above at 0.805
My bias for the pair is therefore with first TP at 0.805.