The pair reached a historical support line at 114.851 on 7th may 20 and the same level was reached on 17th Apr 17 from which bounced back to 137.506.
The pair found ground at the level of 114.851 and buyers started entering. I expect the first resistance to be met at the level of 117.364 as a first stage and the rest of targets are highlighted on the chart. I expect the pair to reach the level of 137.506 once again but will take time considering the pandemic, the US-Sino trade deal and the Euro zone economic situation.
Disclaimer: The above is a personal points of view for the market and any risk will depend on your decision.
The pair found ground at the level of 114.851 and buyers started entering. I expect the first resistance to be met at the level of 117.364 as a first stage and the rest of targets are highlighted on the chart. I expect the pair to reach the level of 137.506 once again but will take time considering the pandemic, the US-Sino trade deal and the Euro zone economic situation.
Disclaimer: The above is a personal points of view for the market and any risk will depend on your decision.
Trade closed: target reached