I have a feeling that we wont be breaking that 1.20 level soon, though it will all depend on the fundamentals. If we do not then we will have a very powerful double top on HTF that will push price significantly lower before we proceed higher.
We have seen a reversal pattern develop on H4 over the last week, I consider it strong enough to push price higher before we encounter some resistance at 133.7. if price gets to that level i will sell.
We have seen bearish momentum in the past weeks after hitting a strong resistance level, forming a wedge like structure on H4. I am expecting significantly higher prices, 1.7400, there about before we drop.
