Price has reached the upper border of the long sideways range that goes back to early 2015. The break of the trendline within the range was strong, the price treaded sideways may-june until last weeks strong upward move that also pierced the Yearly R1 with a strong close above it. Especially last weeks close may hint of more upside, and that we might see a serious break out of the long sideways range. This week price has gravitated to the new monthly pivot point which has been traded as of today. If bullish, then this could be a good time to look for a long position with entry using lower time frame buying signals. The natural target then will be the Yearly R2 1.2090. A more moderate approach on the long side, is to wait for a close above the 1.1450 line as this would be another bullish sign and warning of a break out. A weekly close below the monthly pivot point at 1.1325 and perhaps even a close below the Yearly R1 at 1.1303, should pause any long entries at this point. A sharp move down and close below 1.1165 or even 1.1109, will shift focus to the short side, especially if we see a MACD crossing, that will create a Hidden Bearish Divergence.