This pair has had quite a decline for the past 6 months as evidenced by my daily chart below. IMO this is likely to change soon.
As the H1 chart above shows, we had a few days of consolidation (shaded box) and earlier today it broke out impulsively to the upside. Price has now returned to retest the breakout level (0.8579) and I do expect a continuation to the up side next week.
With a target at 0.8650 and stop below the box, we have a possible +2R trade.
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As always, please use sound money and risk management in all your trades.
With a target at 0.8650 and stop below the box, we have a possible +2R trade.
If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.