After a crossover to the upside for the first time since 2014, we have seem strong momentum behind this pair. This month we have successfully breached and closed above 2 key zones.
Last week we had a strong closure above 1.4000 and this week, we could continue to see further momentum that may take out 1.4250. EMAs are upward facing.
Yesterday we closed above our 8 as well as retested and rejected 1.4000 support with a . EMAs are upward facing in alignment with the bigger picture.
Clear higher highs and higher lows on this TF - we have pulled back nicely into our preferred fib region forming a which has rejected 1.4000. A break of the CTL as well as crossover gives us a good opportunity for a long position.