Main scenario: consider long positions above the level of 138.83 with a target of 147.00 – 149.99 once a correction is completed. 

Alternative scenario: breakout and consolidation below the level of 138.83 will allow the pair to continue declining to the levels of 135.88 – 131.70. 

Analysis: The upward third wave of larger degree (3) continues developing on the daily chart, with wave 3 of (3) formed as its part. A downward correction has finished developing as the fourth wave 4 of (3) on the H4 chart, and the fifth wave 5 of (3) is unfolding. Apparently, the third wave… Read full author’s opinion and review in blog of #LiteFinance