Weekly - The Pair could see support in the 1.1600 area before another move higher back above 1.25000. We do see nice divergence on the Awesome Oscillator at the highs that I believe is the end of a 3rd wave with a 4th wave in the making.
Daily - The pair is currently bouncing from 2 equal legs down from the 1.2350 highs for an A wave of the deeper wave 4. I am looking for a move higher from these levels toward the 1.21 to 1.2150 are for an X wave before another 3 wave move lower to compete a WXY correction for wave 4.
4 HR - I looks like an a-b or w-x could be completed here near the 1.90 area with a c or y wave to start the move higher soon. The lows around 1.1840 will need to hold for the trade idea to remain valid.
Daily - The pair is currently bouncing from 2 equal legs down from the 1.2350 highs for an A wave of the deeper wave 4. I am looking for a move higher from these levels toward the 1.21 to 1.2150 are for an X wave before another 3 wave move lower to compete a WXY correction for wave 4.
4 HR - I looks like an a-b or w-x could be completed here near the 1.90 area with a c or y wave to start the move higher soon. The lows around 1.1840 will need to hold for the trade idea to remain valid.