It's a pair that some traders are finding difficult to trade but let me break it down for you:
Technical:
- Bull Flag - Resistance area: 1.31400 areas and that's where the target of the Bull flag would end. (Patterns don't always work out - that's another thing to keep in mind that's why looking at the levels will help).
If we were to decline the areas that seems interesting:
- Support area of 1.30650 if we were to decline further, between 1.30300-1.30080 areas.
Bearing in mind - the monthly conditions we are in august - for further analysis you could look at seasonality.
Remember: Just an idea, not a trade recommendation.
Technical:
- Bull Flag - Resistance area: 1.31400 areas and that's where the target of the Bull flag would end. (Patterns don't always work out - that's another thing to keep in mind that's why looking at the levels will help).
If we were to decline the areas that seems interesting:
- Support area of 1.30650 if we were to decline further, between 1.30300-1.30080 areas.
Bearing in mind - the monthly conditions we are in august - for further analysis you could look at seasonality.
Remember: Just an idea, not a trade recommendation.