Established Top declining, bottom rising bullish movement (Horizontal Triangles), before the Bull market took control of the trend with the obvious apparent engulfing candlestick at the 1.21073 price level. Bullish momentum set to continue to targeted price of 1.32000. (Currently in the 3rd wave extension).
A lot of price movement is to be expected due to the amount of news influx this week regarding this pair (USD especially).