On the 36 pip range bar study (the largest I use for range bar analysis), the price action is following a trend line up in an overlapping structure, with the weekly R1 & 2 and Monthly Pivot directly ahead, with the peak of the green FLD right at the 1.3755 pivot.
The square root progression steps from 1.2041 has a target line at 1.3744, if the market wished to keep grinding up into this overbought momentum. This would put price right into the 50-61.8% retracement zone from 1.3892, although would mean having to break the 20 day FLD to the upside, which has bullish implications.
On the daily chart, the bigger picture count is keeping the contracting diagonal alternative alive at the moment, with the 61.8% retracement of the 1.49389 to 1.2041 swing, above at 1.3759.
So, whilst this move up keeps looping as it is, might be that the 1.3750 area is in fact the target before a meaningful correction is seen, or anything else to the downside.
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