As we have mentioned before, the pair still remains into the wave 4 correction mode. As depicted above on Daily chart, 1.4810 and 1.4950 is the target area for prices. There are 2 possibilities here: 1) Wave 4 is complete at 1.4819 levels, and 5th wave has started towards the extension 1.5200 and 1.5400. 2) Price would still retrace/test the low created before resuming up. Bottomline: Trend remains up and one should buy on a dip now.
Trade Recommendation:
Looking to buy between 1.4850 and 1.4900, targetting 1.5200 and 1.5400.
