After the market rose above resistance level 1.3610, the bullish model of “Wolfe Wave” was completed. This cleared the way for the pair’s upside towards the target set at resistance 1.3940, meeting intermediate resistances at levels 1.3725 and 1.3820 in between. We will expect the uptrend to continue if the market will keep on rising above resistance 1.3725.
Cloud of supports is located at levels 1.3565 – 1.3610. In case the pair drops below support 1.3565, a downtrend will start with the downside target set at support cloud at levels 1.3290 – 1.3365.