A further move down of this pair could bring us to the completion of a bulish bat pattern
. As always, bat patterns have a pretty good RR ratio, target 1 being approx 1.5 and target 2 approx. 2.5 times the pips we risk.
As this is a setup on the 240 chart, I use a 1ATR stop loss under X.
* UPDATE : This pattern has now completed