There has been a break of the counter trend line. I am looking for a bullish confirmation candlestick pattern at the blue line. This is a support and Fibonacci zone as well as a trend line. If there is a confirmation candlestick pattern I will go long.
The pair is approaching a major resistance level off 1.18387, this has caused a lot of volatility in this pair previously and I am personally thinking that there will be at least a 50 pip drop when it hits this level.