Price can possibly retest to the 1.3238 level before making its way up, as the pair is moving in an upward trending channel.
Possible targets are around the 1.3787 area, which represents the resistance of the channel, and a risk-reward ratio of 1:3.
Price already broke out of a descending trendline after a correctional wave (counter-trend), therefore we can expect prices to start rallying.
Possible targets are around the 1.3787 area, which represents the resistance of the channel, and a risk-reward ratio of 1:3.
Price already broke out of a descending trendline after a correctional wave (counter-trend), therefore we can expect prices to start rallying.