The chart shows my working count for the fall started from 1.9970. It is obvious that we have a flat correction down followed by a resuming of the up-move. I think that the minimum upside target is 1.9970 however I have to note that higher levels are very likely. A key support is 1.9805 so I move the stop loss of today’s long position just below it.

Trading strategy: 11:15 EST; 16:15 GMT

Long position from 1.9828, move the stop loss from 1.9760 to 1.9805, target - 1.9970

Confidence level – changed from medium to high

Trading strategy: 08:47 EST; 13:47 GMT

The short position opened from 1.9920 was closed at 1.9808 with profit 112 pips

The addition to the short position opened from 1.9808 was closed at 1.9808

Buy at market (1.9828), stop loss - 1.9760, target - 1.9970

Confidence level - medium

Trading strategy: 04:30 EST; 09:30 GMT

Short position from 1.9920, move the stop profit from 1.9900 to 1.9808, target - 1.9550

Addition to the short position from 1.9808, move the stop loss from 1.9900 to 1.9808, target - 1.9550

Confidence level - medium

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