Main scenario: consider short positions from corrections below the level of 1.2146 with a target of 1.1405 – 1.1154.
Alternative scenario: breakout and consolidation above the level of 1.2146 will allow the pair to continue rising to the levels of 1.2674 – 1.3000.
Analysis: The fifth wave of greater degree V was presumably completed on the daily chart. Wave 5 of V then formed. The H4 chart shows that the first ascending wave with a smaller degree (1) has completed its formation. A bearish correction is developing as the second wave (2), with wave А of (2) continuing forming as its… Read full author’s opinion and review in blog of #LiteFinance