EA play the range for longs, wait for shorts

The pair traded for about 17 days in the 1.80 range this year (including the spike into the high 1.90s). It should be easier for the pair to move back up there again. I won't short the top of the range, but wait for spikes above it.

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You can see that EA is just reaching the upper margin of the bottoming zone. 1.61 is not massive support, but should give way to 1.59—60 area before a significant swing up.

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May, or may not bounce from here. It has a number of support levels below that can come into play without breaking the long term up trend.