Good morning,
Market has reached our ultimate short-term target around 1.37 - daily K-resistance and overbought. So, despite the nice upside momentum, it's not the time to enter long right now. We need some pullback.
On 4-hour chart you also can see that market has reached some significant intraday Fib extension targets.
Hourly chart tells that potential targets of retracement are 1.3480 K-support and major 0.618 Fib support at 1.3351.
But be aware of new highs that market could show right before retracement will start. Take a note, that Monthly pivot stands at 1.3717 - right at 1.27 extension of current small retracement swing. Market could touch it first, and start retracement second.
So, Trading plan as follows - if you're day trader - wait 1.3480 or even 1.3351 to enter long.
If you trade intraday - search for sell signals around 1.37 - it could be Butterfly "sell", may be even H&S, I don't know. When we will see something like that - enter short with minimum target at 1.3480 - ultimate 1.3350.
1.3350 is particularly interesting - just remember what we've said earlier about potential reverse H&S on daily time frame... That is one of the possible mid-term perspectives...