According to wave count this currency pair is trading in med term downtrend where there's a set of 3 waves - ABC - colored magenta. The targets of this movement are Fibonacci expansions off 137.75-135.46-136.97, 136.97-132.78-134.80 and retracements of 130.80-137.75.
Price targets below the current level:
- 132.44 = .764 retracement
- 132.21 = contracted objective point (COP)
In case the price keeps moving upward the targets will be Fibonacci retracements of 137.75-132.78, 136.97-132.78.
Price targets above the current level:
- 134.88 = .50 retracement
- 135.26-37 = confluence area of .50 and .618 retracement
Overbought/Oversold
The Detrended Oscillator is almost overbought. Assuming that the med term trend is down, now is a good opportunity to seek for opportunities to go short in case of topping singals.