We are also rejecting the KEY connecting the extreme lows on this pair.
I am looking to target the .86500 level as this is the .5-.618 fib retracement of the last down move. This would also coincide with a of the monthly bar.
Dollar index is poising for a retracement lower adding even more confluence to this trade.
Confluence in our favor.
1. Trading with dominant trend
3. Rejecting Key Support @ 84.250
4. Rejecting KEY Trend-Line
5. Higher low formed
6. Room to breath up to .86500