Exepcting price to oscillate within this red band before ultimately breaking upwards.
STOP loss currently at 111.400
TAKE profit at 114.500
LONG entry price was at 112.539 last week.
Holding this for the long term.
On Friday this pairs trading range fluctuated nearly 1000 points from highs of 113.45 to lows of 112.30.
Looking at the daily time frame price is currently respecting MA's and I am expecting a daily close above 112.80 to confirm bullish bias.
I have highlighted this as a key level in accordance with the daily trend line that stood firm throughout last weeks ...