We can expect the pair to rally in the following weeks. There is potential wave duplication on the Weekly and Monthly chart so 127-128 levels should be the least we can see before the pair turns south (monthly bearish divergence is being developed at the moment)
The plan in the shorter term is to look for buy opportunities once the bearish trend line is broken up along with the most recent resistance level. Join at the re-test
Target 1 - 124.40
Target 2 - 125.60
Target 3 - 127.50
Stop Loss – below the broken
trend line and resistance zone
The plan in the shorter term is to look for buy opportunities once the bearish trend line is broken up along with the most recent resistance level. Join at the re-test
Target 1 - 124.40
Target 2 - 125.60
Target 3 - 127.50
Stop Loss – below the broken
trend line and resistance zone
