It seems like wave 5 of wave 1 is in progress and price is about to test a confluence zone around 1.094. However this is only a scenario that I'm following so I can trade the correction. More importantly the expected wave 3 of larger degree lower that should follow will be strong. We can sell that wave 3 once the correction is complete.
But since we are in a impulse we have to take into consideration the possibility of an extension lower. I would therefore like to see divergence in this zone (1.094) in combination with a reversal pattern on lower time frames.
Updates will follow once price reaches this area.