Triangle Broken - Heading Up Long Way!

4 янв. 2021 г.

Hello friends, as you may have seen in my previous ideas, I have been super bullish on this currency pair and called for the triangle breakout which eventually happened last week. The breakout came in perfect timing to confirm the breakout in the higher weekly and monthly timeframes. So where do we go from here? The reason I am using the monthly chart for this analysis is to make it easier to identify the resistance levels as well as the long term down trending line (connecting the highs from 2007 and 2015). Any major pullbacks on the hourly timeframe should be considered buying opportunities with targets of 142, 148 and 156 with the next few months. I expect this to run with momentum until the long term down trending line!

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Good luck!