Price has completed the next leap, from Monthly R1 to R2.
It has halted there for a short time but is currently pushing higher
pre European open. Next upward target stands at Monthly R3
at 1.1859. A sharp stop run may easily achieve this target quickly.
Only a close below Monthly R1 will put upward bias on hold.
Important horizontal support comes in at 1.1450-70; 1.1510;
1.1560. It is hard to get in if you aren´t already long but scalping
pullbacks on low timeframe (Buying dips) is one strategy IF momentum
persists.
Unless a dramatic drop happens today the weekly close will be very
impressive and pointing to further gains in weeks ahead, perhaps
targeting the Yearly R2 at 1.2090.
It has halted there for a short time but is currently pushing higher
pre European open. Next upward target stands at Monthly R3
at 1.1859. A sharp stop run may easily achieve this target quickly.
Only a close below Monthly R1 will put upward bias on hold.
Important horizontal support comes in at 1.1450-70; 1.1510;
1.1560. It is hard to get in if you aren´t already long but scalping
pullbacks on low timeframe (Buying dips) is one strategy IF momentum
persists.
Unless a dramatic drop happens today the weekly close will be very
impressive and pointing to further gains in weeks ahead, perhaps
targeting the Yearly R2 at 1.2090.