EU Analysis

Daily: The pair has broken out of the inverted H&S neckline. A retest is needed to confirm the break. A rejection on 1.17 region would target the upside at 1.1825 & 1.2. The EMA 21 has also crossover to above EMA 50, indicating a potential upside trend.

H4: The pair has respected the uptrend & EMA support multiple times. I'll be waiting for the pair to react to the confluence point at 1.17 region. A rejection at 1.17 would expose the upside at 1.1825. Alternatively, a break below 1.17 would expose downside 1.166 & 1.162.