Estimated pivot point is at the level of 1.3213.
My opinion: Sell the pair from correction below the level of 1.3213 with the target of 1.2780 – 1.2660.
Alternative scenario: Breakdown and consolidation of the price above the level of 1.3213 will enable the pair to continue the rise up to 1.37.
Analysis: Presumably, the formation of the downward impetus continues in the wave A. At the moment it seems that the fifth wave is being formed 5 of A, within which the third wave (3) is being developed. If this assumption is correct, and the price does not break out the critical level of 1.3213, the pair will continue to decline to the levels of 1.2780 – 1.2660.
My opinion: Sell the pair from correction below the level of 1.3213 with the target of 1.2780 – 1.2660.
Alternative scenario: Breakdown and consolidation of the price above the level of 1.3213 will enable the pair to continue the rise up to 1.37.
Analysis: Presumably, the formation of the downward impetus continues in the wave A. At the moment it seems that the fifth wave is being formed 5 of A, within which the third wave (3) is being developed. If this assumption is correct, and the price does not break out the critical level of 1.3213, the pair will continue to decline to the levels of 1.2780 – 1.2660.
