After The break out of the previous consolidation 0.69-0.74 we have formed a bullish trend forming a support at the 0.77 level and resistance at 0.79 level. If the 0.77500 level holds by market open there will be a good opportunity for a long position with risk below the 0.77 and tp1 at 0.79 giving a r/w of 1/2.5. Keeping in mind that historically most up swings last around 1000 pips and the current swing has moved arround 800 pips tp2 will be 0.80000 level as it is also a psychological number and we have a nice support and resistance area there.
Comment:
Target was reached without any pain :)
