We are currently sitting at 1.1346 in a trend inside a trend. We are looking to finish a 5th wave either at the R6 at 1.1497 or with a continuation there to 1.1640. The average daily true range (ATR) for the pair currently is 153 pips.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk