The pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 where the hourly is turning up. While a bounce fails below the 12/13/19 highs it can see a pullback correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 7/15/14 highs.
u previously had weakness on high vol into the 4hr fib, divergence, and now it s at the 50 fib of the previous move with high vol into the fib, if this 1hr candle closes bearish, i ll consider that weakness(effort vs result) and i ll look to short it on a no demand, upthrust etc. if this 1hr candle closes bullish on lower vol, then it s only buys for me. this could be a no supply also if the vol is very low compared to recent background and it s a bearish candle and the next 1 closes up. i guess for me it s all about the reaction to high vol points in key areas. so for now it s wait and see.