Yesterday’s trading session for the pair was calm and low in activity. The price effectively did not move, continuing to hover within a very narrow price range. Such market behavior suggests an accumulation of energy for a future burst of activity, which could lead to a significant movement.

However, based on the current situation, a sharp upward price jump seems most likely, driven by the development of a corrective pullback in a possibly emerging downward impulsive movement. The anticipated movement is schematically indicated on the chart above. Based on this, one can assume that a sharp rise may be followed by an equally sharp decline, which in the end could be much stronger.

In this context, cautious buys can be attempted at current market levels.

Recommendations: Buy 1.3100, SL 1.3085, TP 1.3200.