Main scenario: after correction, consider short positions below the level of 2449.48 with a target of 2218.46 – 2161.56.
Alternative scenario: breakout and consolidation above the level of 2449.48 will allow the pair to continue rising to the levels of 2500.00 – 2560.00
Analysis: the fifth wave of larger degree (5) is forming on the daily chart, with wave 3 of (5) unfolding as its part. Apparently, the third wave of smaller degree iii of 3 is formed on the H4 time frame, and a descending correction is unfolding as the fourth wave iv of 3. A local corrective wave… Read full author’s opinion and review in blog of #LiteFinance
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