I think we have larger correction than it was priorly expected.
Wave (4) is not over yet and market will do another leg up soon possibly to 1.18 level (Y=W).
Currently we are in the which is going to finish.
shows strong with the price and it will work out soon.
Break above 1.07 will crack upside of diagonal and negate the downmove.
Price need to break above 1.1087 (alternative wave 1) to confirm the model otherwise it would be wave 4 of (5) and invalidation of my view.
Best regards, Aibek
You can move stop to break even now and enjoy possible ride to 1.18!
So to save our profits lets do the following.
Move stop higher to 1.0919 from 1.0789.
Add OCO take profit order to 1.1070.
Either side will do profit.
The picture is on updated chart below.
Have a good one!