This pair has been bullish
in the wake of the ECB's rate cut and the increase in QE
. We have nice zone (1.1215-1.1225) where we have a one-to-one confluence, a 1.618 inversion, and a .886 Fib retracement. This could be a potential zone to get long in the underlying trend. Look for price to reject this zone first before getting long. I would have my stops just below the swing low, but be aware of the 1.1200 even handle. It has acted as resistance before and could act as support if price blows through this level. I would look to take profits at the swing high's around 1.1325. Good luck trading out there.