Daily Time-Frame Perspective:
The Pair has just bounced from a key support level which has multiple confluences. We are seeing a Green Daily bar and hopefully the pair should rally further. And Also as the StochRSI is at bit lower than 50 value. Which influences us more for a further bullish movement.
4 HR Timeframe Perspective:
We can see below in the chart that this pair may be going to make a nice looking XABCD Harmonic pattern and to complete the pattern, it needs to rally further and the StochRSI has enough breathing space to the upside.
Getting into the Trade: (2HR):
As we can see in the 2HR chart below, the pair just broken above a downward equidistant channel and maybe started a retracement. So, we can find a nice looking entry here which gives us slightly more than 2X Risk-Reward Ratio.
Entry Type: Long
Entry Price: 1.2287
Stop Loss: 1.2248
Take Profit: 1.2369
Enter at your own risk. Please share, if you like this setup.