While pair stays above wave (W) low at 0.858, it has scope to extend another leg higher in wave Y of (X) towards 0.904 – 0.912 area to continue the correction of the cycle from 12/29/2015 peak. Afterwards, pair should resume the weekly move lower. For more trading ideas and education, feel free to browse other technical articles at our Technical Blogs, check Chart of The Day, and take our FREE 14 Day Trial.