As of last night, we expected our pair to do a little correction to the downside into the red zone - which it did... A move that amounted to about 13.8 pips. Now I see a rather less conspicuous inverted head and shoulder pattern being formed on the M30 timeframe which is a sign that the market is about to continue its upward trajectory. Actions to take, I would personally expect the price to go upwards from this point braking the neckline at 1.8249 and reaching the 1.82764 level where we can take our first Take profit. Price should move even further upwards to our level above. So we can reach the 1.83469 level. However, if the price should break the red line support I have drawn at 1.82340 then it becomes complex to trade this pair. And we might drop it for other opportunities.
