1.64 will be the completion zone (PRZ) of hourly Bat pattern.
The pair is now facing hourly resistance but it looks like it is on the verge of breakout of it.
In case that it will, it may continue higher to complete the pattern (more than 150 pips move).
Trade scenario:
Buy the breakout with anticipation for pattern completion. You need to notice 1.626 which is the 61.8 Fib that may lead to a reversal (can be used as first target level)
Wait till pattern completes and than short this pair with 1.622 and 1.613 as targets
The pair is now facing hourly resistance but it looks like it is on the verge of breakout of it.
In case that it will, it may continue higher to complete the pattern (more than 150 pips move).
Trade scenario:
Buy the breakout with anticipation for pattern completion. You need to notice 1.626 which is the 61.8 Fib that may lead to a reversal (can be used as first target level)
Wait till pattern completes and than short this pair with 1.622 and 1.613 as targets
