Technical outlook and chart setups;
As seen on the 4H chart view here, the single currency pair is testing a medium-term trend line passing through 124.00 level at the moment. 123.00 is immediate intermediary support, while 121.00 is a strong one. Resistance is at 127.00 and 127.90/128.00 respectively. It is recommended to stay long but also book partial profits at current levels. Just in case the trendline breaks, it is expected to correct further down towards at least 123.00 and lower. At the moment, it is looking higher towards a fresh high around 129.00 level before reversing sharply.
Tradimng recommendations:
Book partial profits and hold remaining long positions, stop is at 123.00, and target is at 129.00.
Good Luck!
