The pair is trading @ 1.4034; it went down to 1.3890 area and than up to 1.4060; looks like a small correction is needed and than an up move should happen; should...because it may be possible it goes down to 1.39 again...it's 2 weeks now that the rate range between 1.38 and 1.42; My consideration is that so far we had a lot of occasion and news to support a bearish movement to 1.37 area or 1.33, but the rate never went so low, and every time it went down to 1.38 area it moved violently up; so I think that a long time bullish scenario is still on. 1.4700 may be the right target;
we have support @ 1.3970 and @ 1.3890;
we have resistance @1.4100-1.4130 area if this will be broken we may see a violent up move;
may trading plan:
I would accumulate some long position close to 1.4000
stop loss in 100 pips;
target 1.43 and 1.47
have a nice trading day
:D
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