Further upside for this pair imo. A break below the rising support at (1) would mean the Bears have regained control, if thats the case i would consider shorting down to the next rising trend line support and long it from there !!
The report written in the chart is based on chart patterns and basic support and resistance analysis, other factors need to be considered like data and news regarding this currency pair before entering into a trade.
Long term predictions seldom play out as you expect them to as data and news is changing all the time. This analysis is purely based on chart patterns and following a trend, which i might add some say is due to change !!
A break, hold and close above the trend line resistance on the Daily chart and this 'Short' scenario would be negated... so stops above the trend line resistance should suffice for this short trade.
This analysis is designed for a swing trade that would typically last for days even weeks.