Hi Trendliner,
I certainly do expect a nice waves up in order to retrace the recent decline from
1.2975 to 1.2530. Personally I expect a movement going north to approx. 1.2750, the 50% retracement of mentioned decline.
BUT !!!: (because you're learning) Watch resistance levels closely and also those confirmation levels and take your trading decisions carefully. Never trade on anybody's recommendation, always form your own oppinion.
cya