Main scenario: consider long positions above the level of 1973.96 with a target of 2100.00 – 2172.16 after correction.
Alternative scenario: breakout and consolidation below the level of 1973.96 will allow the pair to continue declining to the levels of 1926.90 – 1897.94.
Analysis: on daily chart a correction to the downside is likely finished as the fourth larger degree wave (4) and the five wave (5) are forming. The H4 chart shows that the smaller wave 1 of (5) has formed, and the local correction as the second wave 2 is complete. The third wave… Read full author’s opinion and review in blog of #LiteFinance