Current price: 1.0750
Key point: 1.0725
Our preferred direction: Buy positions above 1.0725 levels with 1.0800 as a first target and then 1.0860 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 1.0725 level, targeting the 1.0700 levels.
Technical commentary
After the big drop of the pair after the positive news of the US market data, and the opening of the price with a bearish price gap. The price is approaching the support levels 1.0715-1.0725 and with the formation of the harmonic pattern, the price is expected to rise to the levels of 1.0790
