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The tops have been faded and the pair is now returning back to the initial levels located at 1.1335/40.
We may see new lows in the coming days/weeks . The ascending trend line has broken and the pair gave the first test on the bottom channel for the sellers to get in. This seems to be the fifth wave which is pointing to a deeper correction level and we are looking at 1.08394 levels & this is exactly in line with the ascending line drawn from 31st March 2015. We are now looking for opportunities to sell the pair and retracements are considered to be our choicest point of entries.
We may see new lows in the coming days/weeks . The ascending trend line has broken and the pair gave the first test on the bottom channel for the sellers to get in. This seems to be the fifth wave which is pointing to a deeper correction level and we are looking at 1.08394 levels & this is exactly in line with the ascending line drawn from 31st March 2015. We are now looking for opportunities to sell the pair and retracements are considered to be our choicest point of entries.
