The price reached the lower limit of the descending channel on the weekly chart and so bounced off. There are good chances that it moves further upwards to previous support or higher.
Comment:
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Trade active:
The pair sketched a steep uptrend channel but it can move out of it easily to either of the sides.
Trade active:
The pair has 10 more pips to reach the 200SMA on the H4 chart. (1.0978) A reversal/retracement is expected.
Trade active:
The pair reached the 1.1000 area.
Trade active:
Friday brought bulls another 40-50 pips. :)
Trade closed: target reached:
The price made a retracement to 1.09500 and now bulls have taken over once again.
