As always check the forex calendar to avoid event risk and CP users can utilize CandlePro for intraday candlestick trades. NOTE: there is an update for CandlePro users on some new features I just added and will be adding this week. Check it out here.
Trading Idea: My primary trade will be short with confirmation on a rise to the 1.2780 resistance zone. Short targets from 1.2780 at 1.2755, 1.2725, 1.2700 and 1.2670 for 110 pips profit.
More aggressive traders and scalpers will most likely find some short term resistance around 1.2720-1.2730. With the right confirmation this level could break down to 1.2750 for 70-80 pips.
Finally a sustained break of 1.2670 on the 4h charts opens up 1.2600 as the next major support.