A very simple long trade. Having watched this pair behave for the majority of the day, it has a very bullish
tone to it and has recovered from all dips during the day, that is the sign of bullish
momentum. We are now in a previous resistance area
which now has confluence with the .50% fib retrace. In addition to that, it also appears we have a simple AB-CD
pattern forming. Confluence can also be found in that the completion of the D leg, finds price hitting the 1.618% fib ext.