Long
simple long setup
High risk as it got rejected at high near 1.29 and now has a selling momentum going downward.
Reason: It got bounced from key support around 1.2742 during Asia session and if it maintains above the level, it should create a mini double bottom possibility to support the pair to go back higher.
SL: below 1.2742
TP: fib based. Immediate target to just below 0.5 fib recovery at 1.2815
Expected Pips: 20 - 60
Expected Timeline: Max 1 day
Reason: It got bounced from key support around 1.2742 during Asia session and if it maintains above the level, it should create a mini double bottom possibility to support the pair to go back higher.
SL: below 1.2742
TP: fib based. Immediate target to just below 0.5 fib recovery at 1.2815
Expected Pips: 20 - 60
Expected Timeline: Max 1 day
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