Looking at the daily chart, the pair might be in the process of creating inverted head & shoulder. It also shown a bullish divergence. Even though it went lower after BOC decision on Wednesday there is no follow through. Inside bar emerged on Thursday and on Friday the pair move higher with key reversal. A key reversal created on Friday is not really reliable however other patterns and price action prior to Friday's key reversal might indicate that the pair is ready to go much higher. Will be monitoring the pair throughout next week with intention to go bullish with first target at around 0.8660.
Comment:
Target profit moved to 0.8680.
Comment:
TP hit.