According to Elliot Wave analysis, unless the short term low is broken (106.49) we are entering wave 5, which, based on the 1.618 extension of wave 1-2 will reach $123-131 resistance area before pulling back in an ABC correction before upside resume. In typical Elliot wave analysis, wave 4 should not enter the territory of wave 1, unless it is a diagonal motive wave. I think that’s what we’re dealing with here. Feel free to comment/like. First post on TradingView. Thanks!