Main scenario: consider long positions from corrections above the level of 1978.84 with a target of 2100.00 – 2172.16.
Alternative scenario: Breakout and consolidation below the level of 1978.84 will allow the pair to continue declining to the levels of 1925.54 – 1896.41.
Analysis: On daily chart, it appears that a correction to the downside has finished as the fourth large degree wave (4) and is now forming the fifth larger wave (5). On the H4 chart, it appears that the first wave is of smaller degree 1, and the local correction has been completed by the second wave 2, of (5). The third wave… Read full author’s opinion and review in blog of #LiteFinance