Nice head and shoulder pattern has shown itself to be reliable for this pair in the recent past price action. Now we are approaching what seems to be a key level of support. Buyers may be trapped here due to the repetitive previous behavior. Expectation is that a bounce will occur but I beg to differ. My anticipation is that a Sunday gap may occur to the downside or there will be a downward spike of some sort or some type of pattern will appear that suggests slowed momentum of this pair. My target price range is around 1.22582 and my stop loss will be around 1.25948.*
**Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.
**Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.