On the chart we see a bearish head and shoulders pattern and a fake breakout.
After a fake move, a double bottom pattern was made announcing a breakout of the 1.40 zone back into the trading range.
The target is 1.70.
Chart shows the possibility of the Head And Shoulders Pattern on the weekly chart and the target.
Chart also shows the highly dynamic support line which was broken and not re-tested in 2014 and could be the target before any reversal in the trend.
Head and Shoulders marks the bear market and the neckline has already been broken and re-tested.
In my opinion,...