There is a great up trend line coming from the bottom. I have also marked a strong horizontal support zone. Basically we are looking for a breakout above the blue dotted line.
That could happen from the current market level or if the pair pushes lower and then breaks above it. The signal would be invalidated if we see a breakout below the up trend line and 0.7800 zone.
Depending on where the entry would happened look to collect the first target near the H1 top which is around 79.70. After first target is reached, move the stop loss to break even and aim for the second target around 84.70.
Stop loss should be placed below the nearest support zone/trend line.
That could happen from the current market level or if the pair pushes lower and then breaks above it. The signal would be invalidated if we see a breakout below the up trend line and 0.7800 zone.
Depending on where the entry would happened look to collect the first target near the H1 top which is around 79.70. After first target is reached, move the stop loss to break even and aim for the second target around 84.70.
Stop loss should be placed below the nearest support zone/trend line.
