Main scenario: consider long positions from corrections above the level of 2277.15 with a target of 2500.00 – 2560.00.
Alternative scenario: breakout and consolidation below the level of 2277.15 will allow the pair to continue declining to the levels of 2154.83 – 2019.86.
Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with first wave 3 of (5) forming as its part. Apparently, the third wave of smaller degree iii of 3 is forming on the H4 time frame, with wave (iii) of… Read full author’s opinion and review in blog of #LiteFinance
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