During the previous trading day, the impulsive wave (c) spiked steeply to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below 1.29625, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 1.28830 towards the next level 1.27 or even lower. The idea is to wait for a pullback to the upperside to pick a low risk sell position.
We’re short towards 1.27