Main scenario: consider short positions from corrections below the level of 132.88 with a target of 125.35 – 121.52. Alternative scenario: breakout and consolidation above the level of 132.88 will allow the pair to continue rising to the levels of 138.24 – 140.57. Analysis: the upward third wave of larger degree (3) finished developing on the daily chart, with wave 5 of (3) formed as its part. A descending correction appears to continue developing as the fourth wave (4) on the H4 chart, with wave C of (4) forming as its part. The third wave of smaller degree iii of C appears to have started developing on the H1 ... (full story)