Reason : Small upside trap for bull is shaping upto 1.3860 which will trigger short side positions upto 1.3750.
Both sides are trade-able long then short.
TImeframe : By Month end longs will be shaped later shorts by early first week of Sept.
Reason : Two wave correction taking place within the existing uptrend. Final short wave is in progress upto 480-500 at which original uptrend will initiate its final third wave upto 700.
Timeframe : short = By first week of September and Long = By late December 16.