Upswing is launched. Given the fully completed downswing and good bullish dynamics, there are big odds for movement above resistance level 1.2485, that would disrupt mid-term downward structure and allow the pair to recover to 1.2726.
Local structure at the moment of writing already got a break of resistance zone 1.2320-1.2326, therefore we can assert ending of mid-term downtrend. Thereby we expect growth of the quotes in direction 1.2400 and 1.2485.
Growth in direction 1.2400 and 1.2485.
Longs to 1.2400 and 1.2485.