If you are familiar with the book "Naked Forex", the past three price reversals have been TEXTBOOK PERFECT!
The most recent price reversal was confirmed by a followed by a long .
We can expect the price to continue to drop to the .7200 level within the next week or so.
When it does reach the .7200 level, we can then expect price to possibly reverse or break the channel.
If the price does reverse, we can look to place a long position back up to the top of the channel.
Lots of possibilities for this pair...