it appears 5 red waves are complete so expecting a red three correction of same degree.
on the lower degree i believe blue wave a is complete and now looking for a 3 wave move to complete blue wave b at roughly 1.24542. from there looking to trade 5 blue waves up to complete blue wave zig zag which completes larger degree red B. there is a possibility that blue wave b stops at roughly 1.25250
if all this plays out will then look to get short at roughly 1.27013 and trade 5 blue waves down to complete red wave C which completes the red degree zig zag
on the lower degree i believe blue wave a is complete and now looking for a 3 wave move to complete blue wave b at roughly 1.24542. from there looking to trade 5 blue waves up to complete blue wave zig zag which completes larger degree red B. there is a possibility that blue wave b stops at roughly 1.25250
if all this plays out will then look to get short at roughly 1.27013 and trade 5 blue waves down to complete red wave C which completes the red degree zig zag