We have completed our 5 wave cycle for his pair and looking to reach between 1.08000 area
for a correctional ABC
wave. We have very good support here which lasted all throughout 2016 and started in 2015
. If the support cannot back our correctional wave period then it is likely that there is deep bearish momentum in this pair
and a brake below the support will drive it down to a plunge. Im looking forward to seeing what happens as I have already placed my trade for the long side.
If you are a bit more cautious then you may want to consider that you buy the pair at the close above the trend line .
Opinions are welcome.