The price of this pair have been travelling upward in impulsive in red wave v' of blue wave 3 and we are now in final stage of green wave 5 of red wave v'. The ideal target for this wave is near 1.4 area where we will find medium term top  and  bears have been waiting to start jump in the game to push down the prices in blue wave 4. Once blue wave 3 in place, we will expect the price going to start decline towards 1.18-1.19 level in blue wave 4 before one last final rally start towards 1.50-1.55 area.Traders can buy near 1.3170 targeting 1.36 and 1.40 area. Stop loss in this case will be just few pips below the end of green wave 4.

muhiuddin