We’ve got a “V-Bottom”, so the price is rising. Therefore, we should keep an eye on a resistance at 1.2674 – 1.2726 as a possible intraday target.
Considering a possible pullback from this area, there’s a chance to have a decline towards a support at 1.2619 – 1.2581 afterwards.
The price is moving up towards the uptrend. Also, we’ve got a “Pennant” pattern, so bulls are likely going to reach the next resistance at 1.2703 – 1.2726 during the day. If a pullback from this area happens, there’ll be an option to have a local bearish correction.
Origin: FX BAZOOKA
