As you can see, last week price closed strongly above a key reversal zone at around 0.87626 indicating it could be ready to push up further towards the 0.78 Fib level before we see that big swing lower we have been waiting for. Due to the strength this pair is showing me i am attempting to catch the continuation of the momentum up towards the descending trendline which is where i will be looking for sells.
Bare in mind a big confirmation for this trade to be valid is that price must break above the 0.61 Fib level at 0.87990 if we are to see a rally up.