The pair has formed a 15m bear trend bar while at the same time breaking through the trendline of what I believe is a simple ABC Zig-Zag corrective pattern.
I expect it to come into the 0.5 - 0.618 region which is the retracement of the Swing i - v, before resuming higher up until the 1.1800 which sits as major resistance.
Stay tuned for the updates below as I will be covering the chart's progress.
For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.