The pair is trading on a long term 1M Channel Down ( RSI
= 37.681, MACD
= -0.379, Highs/Lows = -0.5701) that has come close to the 11.460 1M Support where it rebounded last week. This can be an early signal for a trend reversal and buyers you have entered early can systematically aim at the gaps. First the 12.390 Lower High, which if broke should lead to the 1W Resistance (A) at 12.370 (not a coincidence that the 1W MA50 is currently there. Last gap to fill can be the 1W Resistance (B) at 13.230 where again it is not a coincidence that the 1W EMA200 is currently there. All these levels are Lower Highs on the 1M Channel Down.
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