Medium term trend: Up
Significant levels: 120.00 (Significant Round Number & Resistance), 117.50 (Support),
The price is just above the and is going down right now. We are definitely here. The price might reject the downtrend resistance part of the triangle and could act as a support. If that happened, we could go and place our Long trade. But we prefer for the price to go back down to our for a cheaper price before it continues to go up. The breakout above the triangle could be also be a false one, therefore the price might go down inside the triangle before resuming the breakout.
All in all, we are and we want to buy this currency pair.