Main scenario: consider long positions from corrections above the level of 1.2632 with a target of 1.2976 – 1.3200.
Alternative scenario: breakout and consolidation below the level of 1.2632 will allow the pair to continue declining to the levels of 1.2455 – 1.2250.
Analysis: On the daily chart, a downward correction looks completed as the fourth wave 4 of larger degree and the fifth wave 5 has started to form, with wave 1 of (1) of 5 developing inside. A corrective wave iv of 1 finished forming on the H4 chart, and wave v of 1 started developing. Apparently, the… Read full author’s opinion and review in blog of #LiteFinance