Breaking above the .702 fib extension is a bullish indicator for the currency pair.
My immediate target is up at around 4.30 in the midterm (next few weeks to months).
From there we will have to see if the pair will respect the previous ATH on the pair or if it will execute the massive multi-year cup and handle and break out to ~5.50.
I plan to enter a small position at 4.30 with a target of 3.80 and a SL at 4.40
If the SL triggers my next attempt at entry will be 5.50 targeting 4 flat with a SL at 5.65
My immediate target is up at around 4.30 in the midterm (next few weeks to months).
From there we will have to see if the pair will respect the previous ATH on the pair or if it will execute the massive multi-year cup and handle and break out to ~5.50.
I plan to enter a small position at 4.30 with a target of 3.80 and a SL at 4.40
If the SL triggers my next attempt at entry will be 5.50 targeting 4 flat with a SL at 5.65