Main scenario: consider long positions above the level of 1927.15 with a target of 2100.00 – 2172.16 after correction.
Alternative scenario: breakout and consolidation below the level of 1927.15 will allow the pair to continue declining to the levels of 1863.57 – 1806.25.
Analysis: On daily chart, it appears that a downward correction has finished as the fourth larger degree wave (4) and is now forming the fifth. 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
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