Technical outlook and chart setups:
As depicted on the daily chart view here, the single currency pair has stalled just ahead of 122.00 level for now. It is recommended to book profits on long positions taken earlier for the moment. Resistance is at 125.00 mark, followed by 126.00 and 127.90 levels, while support is at 119.00 (intermediary), followed by 117.00 and 116.00 respectively. As seen here, probability still remains for a rally ahead of 128.00 before reversing sharply; if 119.00 is held.
Trading recommendations:
Book profits on long positions. Look to buy again on dips ahead of 119.00 level.
Good Luck!
