Looking weekly chart, this pair is still in uptrend starting in March 2013.


2 weeks ago price made HL and it looks like phase 2 of an uptrend finished and phase 1 of an uptrend started last Monday. I pulled a Fibonacci from that weekly bearish candle. When we move to daily chart I see two options.


First (1), that price will continue its up trend, break 2.1436 resistance, retest it and then move up to test HH level. Other (2), which is also very much possible is that price will came into range and will not produce HH and HL anymore. So trend trader should look for option (1).
Tomorrow we have Monetary Policy Meeting Minutes in Australia and later we have BOE Gov Carney Speaks news in UK.

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