Please have a closer look to the wave structure depicted above. The rally from 1.3800 to 1.5100 levels in 3 waves yet. 4 th wave down is underway either in 3 waves flat or a triangle. We expect that prices would again at least revisit 1.4820 levels or below, before resuming the 5th wave up. This upswing would then take us towards new highs of 1.5200 and 1.5400.
Trading Recommendations:
1. Short Term Aggressive: Sell now at 1.5000, stop at 1.5150, target 1.4700.
2. Long Term Conservative: Buy around 1.4700, Targetting 1.5200 and above.
