Main scenario: upon correction, consider long positions from above the level of 1.2515 with a target of 1.3145 – 1.3740.
Alternative scenario: breakout and consolidation below the level of 1.2515 will allow the pair to continue declining to the levels of 1.2300 – 1.1965.
Analysis: an ascending wave of larger degree B is presumably forming on the daily time frame, with the third wave 3 of (A) of B unfolding as its part. On the H4 chart, a corrective wave ii of 3 is completed, and wave iii of 3 is developing. The first wave of smaller degree (i) of… Read full author’s opinion and review in blog of #LiteFinance
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