Here we had several indications pointing to this currency pair going bullish
. Price failed to break the 17.5000 Monthly Key Level of Support then formed a Double Bottom
. As you can see, the most recent reaction of note occurred when price broke out of the Bullish Flag
(formed by the two aqua Bearish
) and closed above only to rally towards the 18. 0000
Monthly Key Level of Resistance. Per my rules of TL breaks, I'm looking to target the 18.3000 area for the next major TP, after a correction.