29th June 2020
Looking at this pair, we can see that we were in a very strong from the 1.4100 region. After a bottom out at the 1.3400 level and the close of the weekly gap, we are seeing strong reversal signs. There has been a significant amount of injection into this pair which can be viewed through clear price action as well as a break of structure. There has also been a clean break of the consolidation phase between the 1.3530 and 1.3630 region, for which we are now waiting for a retest towards the top of this range. We will initially be looking to target the 1.3900 region. This will provide us with an overall yield of 2%.