How we have been seen during last days the pair doing a long consolidation. This consolidation due to waiting of decision interest rate. Tomorrow to expect a hight volatility and probably a strong movement.
Using Elliot Wave analysis, I may suggest that the out from consolidation will up and will break 1.138 with targets until 1.176.
This is my main idea at this moment. The fall from 1.1465 looks as three wave movement and marked as wave X.
Subsequent rise is is 5 wave movement, which probably was a wave (A) and next consolidation looks a clearly triangle wave (B). Out from this triangle must be upward fifth wave structure as wave (C) with first target at 1.155 = wave (A) x 0.618
Using Elliot Wave analysis, I may suggest that the out from consolidation will up and will break 1.138 with targets until 1.176.
This is my main idea at this moment. The fall from 1.1465 looks as three wave movement and marked as wave X.
Subsequent rise is is 5 wave movement, which probably was a wave (A) and next consolidation looks a clearly triangle wave (B). Out from this triangle must be upward fifth wave structure as wave (C) with first target at 1.155 = wave (A) x 0.618
