After banking over +231 pips on a LONG trade we took on this pair, we are now looking at selling into a retrace with very low risk. What we see is a 5-wave
move up from what could've been the wave (b) completion. By that count, this move up is part of the larger wave (c) up. This 5-wave
move could be the wave a of (c) OR it could be the wave 1 of a MUCH larger move higher. We do have a longer term BULLISH
outlook on this pair that calls for much higher prices to come. You can see that on my website. PM for access. Or see below.
But for now, a retrace could be in the works. In any case, right or wrong, the risk is low. We will be updating this constantly on our Skype group. See below for access