Main scenario: consider short positions from corrections below the level of 1.3514 with a target of 1.3157 – 1.2831.
Alternative scenario: breakout and consolidation above the level of 1.3514 will allow the pair to continue rising to the levels of 1.3832 – 1.4050.
Analysis: Daily chart: the first wave of larger degree (1) is formed, and a downside correction continues forming as wave (2). H4 chart: waves A of (2) and B of (2) are formed, and wave C of (2) is developing. Apparently, the third wave of smaller degree iii of C is forming on the H1 chart, with... Read full author’s opinion and review in blog of #LiteForex