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.
Buyers are incharge of current movement in this pair. Yet, slight slide coming which is basically two way correction till 61.8 level of initiated present two way uptrend.
Timeframe: Mid September 2016.