If we break above the yellow rectangle consolidation box then i see the 61.8pct (all time high to December low) retracement pulling prices higher like a magnet. The measure of the break from the consolidation puts that target somewhere around 2735-2740.
Having broken above 2 month consolidation pattern its time to look for buy opportunities. This head and shoulders on the 15 min chart may be our buy in point. The RSI and MACD show divergence on this time frame which makes me think this pattern could come good.
The SHS measure take us to just below 1.1500
The S/L at 1.1450 allows enough room for institutional stop...
Here is a short trade I've been in since Friday. Entry was taken on the formation of the harmonic pattern. Entry was at 0.9580 with a broad stop set at 0.9740
Encouragingly it looks like a head and shoulders pattern is forming with RSI and MACD showing bearish divergence.
Should the H + S complete, we would be looking at a minimum retracement to 0.9460