Be noted that the price has already HIT the ascending where a lot of BUYERS AND SELLERS will fight to take control of the trend. Have a look at the main chart here, the red horizontal lines represent the concrete levels drawn from the and they represent where the price might be heading next if a breakout occurs.
Currently the price is supported by an ascending and beneath this there is another long term , what this means if a break of the current held occurs the price might head towards the 1235.00 region where the next ascending is present. On the flip side, should the bulls gain enough momentum, the descending (have a look at the main chart) will have to be broken and the price will probably skyrocket to 1270.00 level.
Fundamentally, the risk aversion is taking all the headlines at the moment, but the many expecting to cut rates this year and eurozone slowdown will probably take the yellow metal higher. All in all the price is at a crucial level and we may see a lot of , but as a precaution we should probably enter once the price has broken the structures (see the chart) before making an entry.
This just represents the current outlook on this pair and its not a trade signal. shall the criteria meet in the near future i will post the trade details in a new post. Hope you found this helpful cheers