Technical Outlook and Chart Setups:
As it was discussed earlier, the single currency pair is stalling at Fibonacci 0.786 support level just shy of 1.4800 support. It is recommended to stay long and also buy intraday dips as close to 1.48 level for an extended rally. Support levels are still defined by 1.4800 immediately, followed by 1.4700 and 1.4600. Resistance levels are defined by 1.5050, 1.5150, and further up. On the flip side, a break of 1.4800 level is critical and lower levels will be seen from there on.
Trading Recommendations:
Long for now, stop is at 1.4800, and target is open. Please reverse trade on a break of 1.4800.
Good Luck!
