Technical Outlook and Chart Setups:
Please note the wedge consolidation depicted above. The single currency pair is showing pretty clear signals that it is headed to the north side till 1.51 level is intact. Moreover, trendline support and past resistance turned to support and Fibonacci support and all demonstrating a convergience here. We suggest to be patient and hold on to longs positions taken earlier. Every intraday dip can be used to add further longs. A break out should materialize in 1-2 days.
Trading Recommendations:
No change. Please hold on to long positions taken earlier, Stop at 1.49, Target at 1.55/56 levels.
Good Luck!
