Bullish:Currently we are @ 1.2744 after completing a corrective2 wave on the channel bottom. We are looking for a continuation initially to the ATR target @ 1.2795 and then continue to the 2.618 Fibo @1.2878z. The average daily true range (ATR) for the pair currently is74 pips but its 180-day ATR is 107 pips a day.