Falling down will be expected next week.
Good Luck
The pair confirmed a strong closing on Friday supporting a retest of the 1,1460 area, now the attraction. The weekly closing was also strong above the tops of the past few sessions. Further strength is therefore possible if not even probable!
The indicators of the daily chart are now well positive as well as those of the weekly one supporting further strength. The indicators of the s/t charts are also well positive with bearish divergences still supporting a positive tone. While above 1,1345 on an hourly closing expect further direct strength. My prefer however waiting for a decent correction to buy but only close to the 200 hours line, now found at 1,1242.
Monthly May 2014 1.3993 11 months latter almost vertical drop, March 2015 1.0461 3500ish pips for the last 12 months she has been trading east 800ish pip “range” so should be looking to trade the range until direction bounce or continue south
800 pip range will have secondary trends inside this range, therefore selling the top of range buying the bottom etc is first option,
working down through the timeframes
-weekly market is just above the mid of the above range, mid are not good to be trading
-daily present trend East and slightly up
-4hr is Up, however zoomed in it is East
-1hr is down zoomed in East
sooo suggestion is overall she is trending east, find the sub ranges and trade them accordingly sell top buy the bottoms, right now on hourly shes just below mid range therefore no trade
Trading now is nothing more than pot luck, without looking at higher timeframes,
I amm using 1154ish as bottom of hourly range 1187 as top not much room to do anything 