The Trend on Daily and Weekly TF is bearish, however, price is at a weekly demand zone and could result in a bounce before bears resume. The rally could also be driven by profit taking. This is a counter trend set up.
Leading diagonal completed. Expecting a sharp correction. Wave A seems completed so far. B looks to be topping in place with a 2618 bearish set up on daily chart. This Calls for further bearishness on this pair to longer term target at 1.4950.