*** EDIT - I have just moved my SL down to 1.4160, making the risk/reward ratio 2.90 now, still anticipate same TP target.
With the recent numbers that just came out early today, USD showing weak with the terrible NFP, the Euro showing strong with the EU raising the interest rate, should spur some people getting on the carry trade.
On a technical side, there is divergence shown in the 4 hour charts, along with a doji for a potential reversal, everything is pointing to go long on this pair for the next week. the Full stochastics of (14,3,3) are also showing an uptrend is near.
Buy now at 1.4260 - stop loss at 1.4200 - Take profit at 1.4550 (just below previous highs from July 1st)
Pips risked 60
Pips to gain 290
Reward/risk ratio = 4.8
Overall I think the pair has higher targets, somewhere near the 1.4650 area, but I will take profits at 1.4550 first, and then check for any reversal signs.
