I have been bullish on this pair on the long term.
There were some pullbacks because of the news but it showed great strength and I think now we will see some great action. Next week will be interesting as we have to see if the trend line holds. If not then we may see one more wave down. Look out for the trend line and open long
You have a lot of other downtrends, horizontal resistances etc coming into play here. Just look the other ideas on this pair... It's a huge confluence zone... No way it can go higher without taking a breath.
salmanijaz
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@chocotraders, Thanks for your feedback ... You maybe right ... thats why i made this trend line which will give me the answer next week. 1.3306 was a strong resistance which was holding for weeks ... and it was broken last week and this was the motivation for this idea. I think it will act as a support. If not then we may go down again