An approach to monthly chart, always help to understand where we are to shorter time frames.
A change target is necessary, because of an interval triangle pattern ABCD. So the new target is 1.2905. 1.DE=BC*.618 2.RSI still downtrend. 3.If SL level brakes, then long till 1.3380 level
In my opinion, the down trend that strarted from the begining present year, it doesn't completed yet. The fibo retracement 61,8 is in the area of 1.20 on monthly chart.
4h chart Hi everybody, this is my idea about this pair.....