A closer look at the H4 reveals some more inside information about this pair. It's it is going sideways since May 2012 and it seems to have a bottom which I think will be tested one more time just to see if it holds up. This last intraday/shortterm uptrend climbs without much momentum. Actually, there is a bearish
negative divergence going on. If we take another look on a weekly chart - not shown here - we will see that it might be - also tempting - a little bit too early for a long position. The price is running right into resistance on almost all timeframes. I want to see the price come back a bit - best on last green trendlinie - or conquer the downtrendlinie so that on a pullback there is some support in my back before it should eventually keep on going north.