After breaking out of the channel which signify seller out of the market , price make a correction to the channel wall which is corrective wave ABC , and price rejection a significant demand zone and expected to move move to the upside in coming days as a continuation of the impulsive structure
Price created a correction after EBC news , and price is still within the correction channel , and it is expected to drop to the equal level before another impulsive move to the upside to hit the first target which was the HIGH of the first impulsive move, the equal level also serve as the quasimodo level which is the strong level to enter the trade
Price dropped back to the demand level after the NFP rally on friday , and price broke out of the channel this morning at the start of the london session. i expect price to rally from the demand level to the 1.2800 and perharps 1.2900 in coming days or weeks
price hit the RBD which is the supply zone and price is expected to drop down again
Expecting price to hit the QML level before going for a significant buy