Technical Outlook and Chart Setups:

A Daily Chart view is again presented here for a long-term perspective. After hitting the first target D1 at 111.00 level, the single currency pair had raised past 115.00 level before pulling back to 113.50/60 levels last week. Since then, the prices are trading between a narrow 100 pip range between 114.10/20 and 115.20/30 respectively, as seen on the smaller timeframes. A clear range breakout would re-enforce opinion about the next larger trend movement. Fibonacci resistance levels extend to 117.90/118.00 and above 120.00 respectively at the moment. Immediate support would be 113.00, followed by 110.50 and lower. 114.30/35 would be intraday range support.

Trading Recommendations:

Book partial profits on long positions taken earlier. Add further long on a bounce from 114.30/35 levels. Stop is at 113.00. Target is at 117.90.

Good Luck!