The chart shows my working count which is unchanged for months. Currently there are conditions for a trend reversal after today€™s break above the previous high 1.2991 so I entered long on break of the said high. If this is true, we should see an acceleration of the up-move in coming weeks and months with minimum target a re-test of the 1.4718 high. However I have to admit that my confidence is still low because the movement started from 1.2491 could be wave c of a bullish triangle. However I keep in mind that if the trend is already changed and the expected rise to 1.4718 has already started, there is a risk to miss this movement so I made a decision to enter long with relatively close stop loss.

Trading strategy: 10:50 EST; 14:50 GMT

Long position from 1.2995, stop loss - 1.2880, target - open

Trading strategy: 04:31 EST; 08:31 GMT

Buy on break of 1.2994 (buy stop order at 1.2995), stop loss - 1.2880, target - open

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.