Analysis based on round-number levels, price channels and modified Elliot Waves
The overall movement is upward. The downward pattern shows weakness. A bullish divergence formed on the Awesome Oscillator, while Stochastic Oscillator shows an exit from the oversold zone.
Trading recommendations:
Buy as the 123 pattern is forming, with the first wave breaching the inclined channel of the descending pattern, completing it.
Stop Loss under the support level 1.2150.
Target levels – 1.2350; 1.2470.