We can see that the pair is at the bottom of the channel, and both from the Price Action and the Bullish Divergence (on 12H, DAILY AND WEEKLY Timeframes) itself we can easily assume that bullish momentum is building up which is why I’d be considering a long position to the top of the channel and when and if the price reaches that point we can then start looking into the next possible move.
- Entry: 1.2100
- Target: 1.2470 (370 pips)
- Stop loss: 1.2050 (50 pips)
- Risk to reward ratio: 7.4
Trade safe and do your own due diligence before executing a trade.