The pair has broken the 125.028 price level which has acted as a very significant resistance level in the past.
Looking at the monthly and weekly timeframes a Bullish Engulfing bar has been formed and coming down to the daily timeframe the market has formed an inverse head and Shoulder which is a clear Bullish Indication.
A slight retracement to the neckline of the inverse head and Shoulder is expected thereafter a strong move to the up side.
Looking at the monthly and weekly timeframes a Bullish Engulfing bar has been formed and coming down to the daily timeframe the market has formed an inverse head and Shoulder which is a clear Bullish Indication.
A slight retracement to the neckline of the inverse head and Shoulder is expected thereafter a strong move to the up side.