I publish the 4 hour chart, but I have done some work at daily chart and this idea is in line with the daily chart. Hence on longer time frame, we are on the same picture.
Risk/Reward is 2.05 which is good. I set up the stop loss at 127.8 and target price at 129.817.
Fibonacci showed me 168% same as the trading range once the price break out the upper resistance. On daily chart, the Vol is nicely support the price after you see the reversal pattern of the two candles.
DXY has the fundamental weakness if we consider the recent data and the Marco effect. Euro might got the chance and this is also in line with my previous idea to long EURUSD.
Trade closed: target reached
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Fundamental and technical together can achieve much more!