Taking into consideration that the monthly chart displays huge support on the 1.13121 level. This illustrates that this level is respected and it is not likely that price will brake for the bears. With that understanding in mind we should prepare long positions for the break to the upside. I am also expecting that the US data will likey come out weaker for this week. The level to anticipate for TP 1 @ 1.15086; TP 2 @ 1.17510. This trade will likely last a number of weeks.
This analysis is based soley on technical analysis.