I've been watching this pair closely for the past week.
My bias was that if the price breaks 1.26533 (which it did) we could either see a new lower at 1.23730 - which is my current take profit level.
OR alternatively a higher low at mid range of my target.
But reading the news, they have said that bears could prevail. However I'm not that experienced at understanding the news.
However based on the price movement, I can see that there is a huge potential that my target will be hit which is a 191 pips target.
Looking to the future (being optimistic), If the price breaks my profit target we could expect a retest and a further push downwards to a previous higher low at 1.21350.
My bias was that if the price breaks 1.26533 (which it did) we could either see a new lower at 1.23730 - which is my current take profit level.
OR alternatively a higher low at mid range of my target.
But reading the news, they have said that bears could prevail. However I'm not that experienced at understanding the news.
However based on the price movement, I can see that there is a huge potential that my target will be hit which is a 191 pips target.
Looking to the future (being optimistic), If the price breaks my profit target we could expect a retest and a further push downwards to a previous higher low at 1.21350.