Technical outlook and chart /setups:
The single currency pair is carving out a potential long entry point, for the next leg up towards 1.45/1.46 levels. As discussed earlier, the 1.4270/80 level is the potential support with 0.618 Fibonacci support also crossing. It is recommended to remain long and also to add long positions at current levels 1.4270/80. Immediate chart resistance is at the 1.45 level while intermediary support is at the 1.42 level respectively. The overall structure might be suggesting a potential trend reversal from here on. The next big rally could possibly extend higher than the 1.5 level. Looking higher from here on.
Trade recommendations:
Remain long, add fresh positions as well, stop below 1.42, target open.
Good luck!
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