It appears buyers have really pushed this pair past the descending trendline. The impulsive move in the past hour suggests very strong bullish momentum and these types of moves are generally followed by another one in the same direction quite frequently. This is a fairly volatile pair so it's good to keep wider stops than on the major pairs. In our view the sensible approach here would be to wait for a retracement to the demand zone in the blue box.
www.clearedgefx.com
www.clearedgefx.com
