Currently we are at 1.2992. The cross is still showing lots of bearish signs and we are approaching a critical area on the 240 chart. A bounce on the Down Trendline coincides with the .382 fibo and would start wave 5 to the downside starting at the 1.3458 top. Down target is the .618 Fibo and S6 @1.2944. A break of trend line north has an immediate target of the 1.3050.The average daily range for the cross is just 89 pips.
