Swinging here and there, this pair is skipping the B-Line and heading upward in small waves.  It suggests decent confidence but nothing overwhelming.  Thus, instead of buying breaks or closes, we suggest waiting for the general expression to come in line which is wait for a pull back to the Tenkan (white line) while placing stops below the 20EMA.  You could also buy on 20EMA touches with tight stops below while targeting the next fib in the sequence.  The pair has responded to both the 38.2 and 50% fibs so we expect upside targets to be the 1.4500 handle and the 61.8fib which stands at 1.4615.  Cloud analysis says bullish strength is still clearly in play while it climbs but it is starting to thin.  CCI and Momentum models suggest medium strength is still left in the trend so buying pullbacks as the suggested strategy is the way to play.


Chris Capre is the current Fund Manager for White Knight Investments. He specializes in the technical aspects of trading, particularly using Ichimoku, Momentum, Bollinger Band, Pivot and Price Action models to trade the markets. He is considered to be at the cutting edge of Technical Analysis and is well regarded for his Ichimoku Analysis, along with building trading systems and Risk Reduction in trading applications.