Personally am neutral for the pair, but based on the cloud support @ 1.0761 and room upwards till 1.1121, it may be a BUY strategy.
For those wishing to venture, BUY @ 1.0850-1.0885 and place stop-loss below 1.0760. Profit objective let;'s say 1.1067.
We are not moving very convinced north as yet, and there is selling pressure on the pair.
The W-pattern is still valid and we have support 0.9850 area. I feel we should be looking to add further BUY between 0.9925-0.9945 for now and take profit @ 1.0178.
We are en route 1.0250 test and then further move towards 1.0478 again.
We have build a nice double bottom within a well defined down sloping channel. The movement feels we should see a break-out and strategy may be to BUY 1.0075-1.0130 for objective of 1.0417 for now.
The pair is starting to move higher, but resistance 1.0125 (estimated) has yet to be overcome.
The RSI and MACD support a break of that level and interest rate decision will support the move higher short-term.
Strategy BUY @ 1.0025-1.0065 ( add to our earlier longs much lower) and take profit 1.0278 for now.
No change in view.
We should be drifting higher slowly, but resistance 1.0110 needs to break for further 1.0237 attempts.
For now BUY @ 0.9965-1.0020 range and take profit @ 1.0105 for now.
I have not changed the over all outlook.
We have tried previously attempting 1.0043 and it failed, and we pushed lower since then. The MAC is negative and the RSI is negative as well on daily chart. The weekly suggests caution on being short, and I feel that we are still in selecting BUY entry further adding to the earlier purchase at higher levels seen before....
It feels we may see recovery phase. The market has conditioned itself to sell each day, and small upticks were sold.
Now the pattern represents little zig zag and this means we may see test of 1.0117 coming sessions, is my humble opinion.
Strategy BUY @ 0.9965 - 0.9990 and take profit 1.0189.
