The pair rose again approaching the resistance level around 104.60. Breaching that level could cause the pair to surge to the upside to complete forming the BC leg of a suggested Harmonic Shark or 0-5 Harmonic pattern. Stochastic is currently in overbought areas hindering a bullish wave for some time, however, by simply breaching the mentioned resistance level, the pair could enter a new upside wave .
The trading range expected for this week is between the key support at 100.75 and the key resistance 106.25
The short-term trend is to the upside targeting 109.15 as far as 98.75 remains intact.
Support 103.10 102.85 102.60 102.10 101.60
Resistance 104.10 104.60 105.00 105.25 105.85
Recommendation Based on the above chart and explanation, our opinion is to buy the pair above 103;10 targeting 104.10, 104.60 then 105.25 and stop-loss with four-hour closing below 102.10 this week