Main scenario: consider long positions from corrections above the level of 1.0788 with a target of 1.0978 – 1.1141.
Alternative scenario: breakout and consolidation below the level of 1.0788 will allow the pair to continue declining to the levels of 1.0720 – 1.0591.
Analysis: an ascending wave B is presumably developing on the daily chart, with first wave 1 of (A) of B and corrective second wave 2 of (A) of B formed within. Apparently, the third wave 3 of (A) of B is developing on the H4 time frame, with bearish corrective wave ii of 3 completed as its… Read full author’s opinion and review in blog of #LiteFinance
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