In my opinion the pair is now in consolidation mode from yesterdays' impulses which is why I am expecting on more push to the upside all the way up to the 1.1835 level.
I am anticipating the pair to start moving sideways upon retesting yesterday's POC (which also confluences with the 0.5 / 0.618 retracements) before initiating the move up.
I will be looking for an impulse + flag combo on a lower timeframe such as the 3M before considering to enter so stay tuned for the updates. As it stands on the 30M we do have a form of flag forming now which is why I believe the pair could be continuing higher.
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.