Technical outlook and chart setups:
The weekly structure is clearly indicating major swing moves in the coming sessions. The resistance at 123.30 is expected to be breached any moment. It is recommended to hold long positions till that moment. More conservative trading approach would be to wait for 123.30/40 levels to be taken by bulls and then prepare to go short. Intermediary support is at 121.00/20 levels at the moment. Please remember this could be the final rally by the bulls before a meaningful correction materializes.
Trading recommendations:
Hold on to long positions, stop is at 120.00, target is at 123.30.
Good Luck!
