A series of lower lows in a 'sawtooth' pattern are all testing the level around 1.4008. Note there is a comparative vacuum area from below which means this breakout has a lot of room to move. There is a rather strong Ichimoku cloud
of resistance from above, and it is apparent that there is simply not enough momentum to punch through it. Further, the MACD
indicate this is a perfect entry point, and the OBV confirms selling pressure.
For profit targets look to the lows of 11/12 at around 1.3984. A stop loss can be set at 1.4017 at the beginning of the Ichimoku cloud