I have seen a few lively discussions about this pair and had to check what my own analysis says. Here is my 2 cents on the pair for the near future..
Looking at the weekly chart it looks like this pair wants to start to range again (This one loves to range, big and small) it will head towards 1.37213 to complete a pattern there. But it is not that easy since the downwards move is currently being rejected and might as well head towards 1.4420 first.
Now, this is not a crystal clear trading idea as anyone can see. But it also makes sense to the ongoing discussion on some other peoples charts. Always 2 trade options to every trade. Take your pick and stick with it. Seeing more lower highs and being under the 100 and 200 MA I go for the bottom target first myself.
Looking at the weekly chart it looks like this pair wants to start to range again (This one loves to range, big and small) it will head towards 1.37213 to complete a pattern there. But it is not that easy since the downwards move is currently being rejected and might as well head towards 1.4420 first.
Now, this is not a crystal clear trading idea as anyone can see. But it also makes sense to the ongoing discussion on some other peoples charts. Always 2 trade options to every trade. Take your pick and stick with it. Seeing more lower highs and being under the 100 and 200 MA I go for the bottom target first myself.
