Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Levels
Description: Wave (c) after expanding triangle has already stated with minor waves 1,2,3,4 and expanded 5th is going to unfold in order to move to 2.618 Fibonacci level and to complete a full corrective cycle. I am long on this short trade in this pair. This pair is in a complex corrective cycle although I think it might hit 1.3250 level as per a reactive pattern in weeks to come.
Recommendation: Buy & Hold
Target Area: 1.2650
Stop Loss: 1.25000