We can see that on Friday price closed giving us a decent low test candle on the daily bouncing off our (75.00) forming a beautiful pattern. Ideally we would of wanted the body of the candle to be smaller or a longer wick as this would of given us more confirmation. However with the MA (moving average) acting as a dynamic support, rejecting price on Thursday and Friday I am happy to remain on this pair.
Moving to the lower timeframe we can see a strong descending trendline on the 1HR chart that has held nicely over the past week. However, during Fridays session we can see a break of our trendline. The move wasn't drastic but the break and retest of our Moving Average gives me more reason to believe this is not a 'Fakeout' move. My intraday of 75.50 was also broken and retested adding confluence.
During the next week we could see price push towards the 76.50 area with a nice 100pip run.