Happy New Year to all! We have a potential bullish setup on this pair, as a breakout through the resistance will require a substantial amount of bullish momentum. This momentum has potential to be sustained with longer targets at the pivot cluster, well beyond the 2:1 milestone. I want to ride this out to the longer targets if the break should occur, but I will be setting to B/E at 1:1 as shown. If the breakout does not occur, bearish momentum may pick up and the bias will likely be short. For now, my bias is long only until further notice. Happy trading!
Trade active
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Breakout has been initiated, trade is active!
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Stop moved to B/E, currently sitting at +61 PIPS
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Moving SL to 84.83 to lock in 31 Pips of profit. Letting it ride and following slow moving PSAR. Cheers