H4 graph
The pair has approached support level 1.3055 (formerly the lower bound of the “triangle” figure), which is supposed to become a turning point, to hold up the descending correction and to restore the ascending impulse.
Variant #1: from the support at 1.3055 the pair goes to a temporary resistance level 1.3290. If it eventually rises above 1.3315, the ascending impulse is amplified and the pair sets the target of growth at level 1.3550. This variant is taking effect while the pair is being traded above level 1.3025.
Variant #2: the pair goes under level 1.3025, what speaks about its “bear” intentions as well as about downtrend development. In such case level 1.2776 will become the pair’s target.
This variant is taking effect while the pair is being traded above level 1.3100.

Daily graph

Weekly Graph
