Main scenario: consider long positions from corrections above the level of 1809.72 with a target of 1900.00 – 1961.31.
Alternative scenario: breakout and consolidation below the level of 1809.72 will allow the pair to continue declining to the levels of 1771.95 – 1747.55.
Analyse. The daily chart shows that the fourth wave of greater degree (4) has ended and a downside correction is now forming. It appears that the first wave, of smaller degree 1, of (5) has been formed. The second wave 2, of (5), on the H4 charts, is a local correction. The third wave… Read full author’s opinion and review in blog of #LiteFinance
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