The start of a correction is very likely after the completion of a Wave 5 bullish cycle. Weakness and divergence (weekly chart) is setting in just shy of the price projection at 1.6480. Dipping below 1.6190 signals the start of a correction back to 1.5870<>1.5790. Cover longs and/or enter short if your risk appetite allows for it.
Primary trend: neutral
Outlook: completion of impulse wave, negative
Strategy: exit-long, trading short-entry below 1.6190
Support: 1.6190 / 1.5870* / 1.5790
Resistance: 1.6340 / 1.6450
Outlook cancelled/neutralized above 1.6450
Primary trend: neutral
Outlook: completion of impulse wave, negative
Strategy: exit-long, trading short-entry below 1.6190
Support: 1.6190 / 1.5870* / 1.5790
Resistance: 1.6340 / 1.6450
Outlook cancelled/neutralized above 1.6450