I believe that Daily Chart does not tell us lie.
If we see the daily Chart Picture is very clear its doing Correction After Completing E5 Wave Structure.
Looking like its had made a falling wedge.
Note that about 70-80 % Wedges makes uptrend and about 20-30 % Falling Wedges goes down.
As we can see in the chart last night market was bounced back from the UPTREND line of the Falling wedge @ 1.30200
I believe that as market has respected the Trend line and bounced Back then we can expect it to go until 1.28800 to 1.28600 or little below also as Fib Extension is showing.
At the lower Trend Line we should be careful as Market might get a Bounce back to continue the previous E5 UP TREND.
2ND scenario is If Market will be slipped from the Below TREND Line of the Falling Wedge. Then It might touch 1.2700 or 1.2600 also possible.
Also we can see a nice DOWN trend in the Daily RSI and market has bounce back from the RSI UPPER Trend line.
For ME ITS SHORT.
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If we see the daily Chart Picture is very clear its doing Correction After Completing E5 Wave Structure.
Looking like its had made a falling wedge.
Note that about 70-80 % Wedges makes uptrend and about 20-30 % Falling Wedges goes down.
As we can see in the chart last night market was bounced back from the UPTREND line of the Falling wedge @ 1.30200
I believe that as market has respected the Trend line and bounced Back then we can expect it to go until 1.28800 to 1.28600 or little below also as Fib Extension is showing.
At the lower Trend Line we should be careful as Market might get a Bounce back to continue the previous E5 UP TREND.
2ND scenario is If Market will be slipped from the Below TREND Line of the Falling Wedge. Then It might touch 1.2700 or 1.2600 also possible.
Also we can see a nice DOWN trend in the Daily RSI and market has bounce back from the RSI UPPER Trend line.
For ME ITS SHORT.
Please hit the like button if you like my idea and follow me for the latest updates.