Since April we have a clear up trend.
20 august the pair touched 0.382 daily fibo lvl and then went up 300+- pips to the 0 lvl.
Recently pair has broke out 0 lvl with a lot of momentum and up trend structure.
What we can expect right now is for sure, correction to the 113.050 zone and then the most probable scenario is that we'll go up following the trend till 1.272 fibo lvl which is the most logical move.
Of course in between there can be some types of consolidation, but after the break out of level 0 with that much momentum the only target is colored zone and then 1.272 fibo.
20 august the pair touched 0.382 daily fibo lvl and then went up 300+- pips to the 0 lvl.
Recently pair has broke out 0 lvl with a lot of momentum and up trend structure.
What we can expect right now is for sure, correction to the 113.050 zone and then the most probable scenario is that we'll go up following the trend till 1.272 fibo lvl which is the most logical move.
Of course in between there can be some types of consolidation, but after the break out of level 0 with that much momentum the only target is colored zone and then 1.272 fibo.
Trade closed: target reached:
Target hit - nothing crazy, everything predictible