This pair has consistently printed inverted head and shoulders patterns on the daily trend line (3 so far). The latest has started to form and in addition printed a bullish pin bar just before the US long weekend.
Looking over the indicators for confluence on the trade idea, the Slow Stoch is printing a bullish crossover on the Weekly chart....
If the hourly trend line is broken to the downside, then there will be a short opportunity
Weekly RSI overbought
Key resistance that has held since July 2014 @ 1350
Possible there will be an exhaustion push to around 1340-1350 off the trend line.
TP 1 - 1320
TP2 - 1315
However, a break of 1400 will mean an upside target of 1550