Head and shoulders on the daily that looks to have completed it's downside move as it bounced off the 61.8% FIB. This would also be the C correction for the 5 wave pattern. We can see prices already broke back up above the neckline of the head and shoulders, so we can see moves higher. TP1 is 1.20364 to close the gap from early 2015.
Comment:
This trade is still in play. This last week actually provided extra confirmation for the move up with a rejection off of the below trendline, and a weekly close just around the close of the 1st wave.
