I am still a bear on this pair and the higher it goes up, the happier I become.
Price broke higher today as the weak dollar and/or the geopolitical situation going on around the world right now. We saw the price breaking the top of the range on the daily and heading to more resistance above , so one might see the levels of resistance above and wonder if bears will enter? . Since I'm a bear on this pair , I'm loving the higher it goes because as the laws of forex go , sell high.
As the price is heading for WM4 and we see the EMAs showing an upward direction , I am expecting bears to jump in at 1276 and push the price down. Our stochastic is currently sitting at over bought.
With MR1 currently holding the price down , we might see a move down during Asia and one can analyse and look for places to pull the trigger .