1.27 doesn't look unreasonable

I think we can see 1.27 till the end of the year or the first months of next year. Overall I'm long for long-term. It also has good support from Ichimoku cloud which historically holds up. As long as it holds the orange line long would be the correct position. Orange line would be a good SL.

Commentaire:

Hello again everyone. At this point I can't be certain whether it will pivot from the demand area. The situation with the cloud is not great, but the conversion line is still above the base line which can be a sign for a pivot. Obviously this exchange is heavily dependent on Oil prices, so it can pivot in favor of USD. I still think long is the correct position, but the 1.27 target is going to get delayed.

Note: Do you own analysis before making a trade.