Main scenario: consider long positions from corrections above the level of 157.50 with a target of 165.00 – 170.00.
Alternative scenario: breakout and consolidation below the level of 157.50 will allow the pair to continue declining to the levels of 151.68 – 146.44.
Analysis: the ascending fifth wave of larger degree (5) of C continues forming on the daily chart, with the third wave 3 of (5) unfolding as its part. The first wave of smaller degree i of 3 and the corrective second wave ii of 3 are completed on the H4 time frame, and wave iii of 3… Read full author’s opinion and review in blog of #LiteFinance
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