During the previous trading day, the corrective three wave cycle continued to the upper side with the impulsive wave (c) stretching much higher. As it is on the hourly chart attached, we expect further momentum to the upper side and should break above 1.10015. A break above this level will push the price much higher towards 1.11035. This view can only be invalidated in case the price breaks below 1.08940, if this is the case, then we are likely to see a possible decline towards 1.07975.
We’re looking for a possible buy.