Monthly: The pair has been in an uptrend since mid 2012; On March, we had a break of key 1.592 level; which is the historical high in this trend; Although we have this break, price is far from the 20EMA, which means we might find a pullbcak yet this year; Bias is bullish for the April and May; Resistance comes in at 1.60800
Weekly: We have an ascending Parallel Channel with very acute angle; 16/04 Candle showed strong bullish momentum and signaled rejection of 1.58 level; 10, 20 EMAs are bullish, aligned and separated, indicating strong uptrend; Bias for 23/04 week is bullish;
Daily: We have a break of pullback trend line on 19/04 engulfing candle coming from 10/20 EMA mean which would be entry trigger for daily execution; Price may reach 1.62 previous high; 10EMA is above 20EMA indicating the bulls are in the lead; R1 pivot level comes in below 1.63 level; On the daily time frame the pair indicates that there's enough room for a profitable rally breaking higher highs;
Bias: Bullish
Given all of the above and moving down to the 4H for execution:
Entry trigger: -We have a bullish Head and Shoulders breaking the Pullback Trend Line;
Stop Loss: -A few pips below Trigger Candle's low;
Target Profit: -Measured move from Head to TL projected to the up side at Trend Line break;