On this pair here is what i think is going to happen: First the pair would go short until it reach the 382 of the july 8 2013
trend up. Now im not saying it would go beyond that but im not saying i wont. Depends on the price action, now we should take profit in that area after making some in the short trade. Observe that this is a weekly chart and if we are pattern trader this could be the B leg that determines the type of pattern depending on where it would stop. it may range 382 up to 886 wherever it wants.
For now im short on this.