Technical Outlook and Charts Setup:
As depicted above, the single currency pair is forming a base to launch the third leg up towards our measured extension levels at 98.00/98.50 region at least. Also please note that past support turned to resistance region and is also converging at the same price levels. Moreover, the dropping trend line also passes through nearby. Considering all these aspects, we continue our bullish positions taken from last week. Fresh positions can be always taken during intraday dips today. Watch out for a thrust action just after the Fed Rates today. The tone is set for the next bull move through August series.
Trading Recommendations:
Hold long positions and add on dips.
Good Luck!
