The cable is currently heading to the lowerside. As we mentioned in our previous analysis, we’re downwards overall, but we expect minor pullbacks to the upper side to pick low risk sell orders. Basically we expect the bounce from around 1.27411 to have marked an end to the corrective three wave cycle, that the currently bearish price rally is the continuation of the previous five wave cycle and should breakout below 1.25850 towards 1.2400 or even lower. As it is on the daily chart, we recommend you look for low risk sell orders.
We’re looking for long term sell orders