Forex Trading TV Video Blog

There is a very distinct channel forming on the daily chart, and there has been a breach through the upper level of the channel. The RSI is floating in 50, meaning there is going to be strong momentum up. The width of the channel states that the move can last until, 1.2210, that is more than 100 pips profit.

look at the chart here:

There is a very strong buying signal, as the pair made a violent break on the daily chart, and the RSI and the Slow Stochastic are floating around 50 (as you can see in the picture).
this indicates that there are still 100-120 pip for this break untill the momentum is over.