We are currently sitting at 1.15871 in a channel inside a trend. We expect to continue correct and then to the R6 resistance at 1.6024 with a possibility of a move to the 1.6157-1.6197. The average daily true range (ATR) for the pair currently is 139 pips.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk